ATP Real Estate and PensionDanmark have bought a Copenhagen hotel.
The two investors took equal stakes in the Copenhagen Marriott Hotel for a combined DKK1bn (€134m).
The hotel, fully leased to BC Hospitality Group, comprises 406 rooms and 24,000sqm.
Marriott has operated the hotel, on the waterfront at Kalvebod Brygge, since the building’s construction in 2001.
Solstra Investments sold the asset and controls operator BC Hospitality.
ATP Real Estate chief executive Michael Nielsen, said: “We are very pleased with the investment, which is in line with our focus on sizeable direct investments in properties located in prime locations, with long-term leases, and generating stable income to benefit ATP members.
“Over the years, Marriott has built a strong market position for the hotel in Copenhagen. With the acquisition of two London hotels earlier in 2016, and the addition of the Copenhagen Marriott today, we have made significant additions to this sector in our real estate portfolio.”
PensionDanmark’s Torben Möger Pedersen said the asset was a “modern hotel leased to a stable tenant in an exceptionally attractive location for tourists and conference attendees alike”.
“At PensionDanmark, we invested in our first two hotel properties in 2016,” he said. “We are very pleased to be able to add the Copenhagen Marriott Hotel as our third hotel investment.”
ATP Real Estate and PensionDanmark have jointly invested in several real estate investments, including the UN City at the Marble Pier in Copenhagen and ‘Magasin’ department stores in Copenhagen, Lyngby, Odense and Århus.
PensionDanmark has also invested in the headquarters of the Court of Sønderborg, which also houses a department of the High Court.
The 6,135sqm property, which underwent extensive renovation in 2008, is fully leased and is PensionDanmark’s seventh courthouse.