More than 300 apartments in the central Zealand town of Ringsted will today be auctioned off

Roskilde lower court representatives will today supervise an auction of 310 luxury flats in the 'Abbey Park' apartment complex in Ringsted.

Advertising for the auction filled eight pages in real estate section of newspapers.

The homes, which together make up 220,000sqm of living space, were owned by Stones Invest, which declared bankruptcy earlier this year. It is the largest area of non-commercial real estate ever auctioned off in Denmark.

BRF Kredit is the largest creditor involved in the properties, having around 353 million kroner wrapped up in the flats. Roskilde Bank, which was taken over by the state’s Financial Stability Company, has approximately 50 million kroner invested in the properties.

Stones Invest has attempted to sell the flats to private individuals but could sell only 10 out of the 320 properties, after which the flats were rented out.