5 January 2017

New billion loan supports the development of Carlsberg Byen's largest phase so far  

Horten has advised Carlsberg Byen in connection with the conclusion of a DKK 4.2 billion financing agreement with the pension company PFA. The new billion loan is to finance the development of Carlsberg Byen's largest construction phase so far.

With the agreement, Carlsberg Byen can develop and construct the next 200,000 + square metres at the historic area in Copenhagen.

The new funds are to finance the construction of four to five tower buildings with dwellings, offices, shops, restaurants and cafés at Carlsberg Byen. The funds are also to be used for restoration of existing historic buildings so that these can for instance be used for cultural activities. Further, a number of public open spaces, squares and recreational areas will also be established.

The agreement is essential for Carlsberg Byen's continuation of the planned development, which is expected completed in 2024.

When Carlsberg Byen has been completed, the urban area will consist of approx. 600,000 square metres, where the rebuilt and modernised preservation-worthy industrial buildings will be mixed with new buildings, including approx. 3,000 dwellings, a variety of shops, culture, restaurants, cafés, offices, liberal trade, sports facilities and institutions.

Horten has assisted Carlsberg Byen with legal and strategic advice on all aspects of the transaction.

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