AEW buys Danish life science asset for core European property fund

AEW has bought a fully-let 32,755sqm asset in Denmark as its first life science asset.

AEW’s open-ended Eurocore fund has bought the Sydmarken 5 asset in the Medicon Valley of Copenhagen.

Christina Ofschonka, senior fund manager for Eurocore at AEW, said: “We have been seeking opportunities in the emerging life sciences sector given the highly resilient income it offers driven by strong underlying fundamentals. Across Europe the sector is characterised by low supply of good quality and highly specific stock that occupiers require, coupled with increasing demand that was already fuelled by increased government and private investment into healthcare and pharmaceutical research and manufacturing, even before the pandemic brought it into even sharper focus.

”Copenhagen’s life sciences industry is seen as a world leader and this asset is at the forefront of that reputation.”

AEW launched its first open-ended, pan-European core real estate fund in December. The Eurocore fund raised €410m in a first close and will pursue stable, long-term income returns by investing in a “future-proof diversified portfolio” of office, logistics and residential assets.

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