Carnegie acted as exclusive financial adviser to NREP and NPV in securing construction financing for property development.
NREP, a Nordic property fund, and NPV, a Danish property developer, have formed a joint venture to develop 470 apartments on three artificial islands in the South Harbour of Copenhagen. The Danish pension fund PKA has provided the construction financing of DKK 1.2bn with better and more flexible terms than the banking market could offer. This is the second transaction for construction financing that Carnegie has placed with PKA after last years DKK 2.4bn construction financing for Carlsbergbyen.