Danish pension funds Industriens Pension and Velliv have announced a joint investment worth over DKK500m (€67m) in a project to build a new sustainable headquarters for a legal practice in Copenhagen’s North Harbour district.
The two investors said the planned office building would have 13,200sqm of space across five floors and a basement, and serve as the head office of Danish law firm Accura.
It will also carry enough solar cells on its roof to become sustainability certified in the gold category of the German Sustainable Building Council’s standards, the pension funds said.
Søren Tang Kristensen, property investment manager at Industriens Pension, said: “Accura’s employees are getting a headquarters where sustainability is the focus, and the location by canals and the metro is very attractive.”
Tang Kristensen added that the DKK194bn labour-market pension fund expected the real estate investment to provide good, stable returns to its members for many years to come.
In their joint statement, the two pension funds said the total value of the investment was “a high three-digit million” sum in Danish kroner, which a spokesman for Industriens Pensions confirmed as meaning above DKK500m but gave no more exact figure.
Velliv, the Danish mutual pension provider with around DKK250bn under management, said the new office building, designed by Danielsen Architecture, was due for completion in the second half of 2022, and would be located in the centre of the North Harbour (Nordhavn) district, at Alexandriagade 8, approximately 50 metres from the new Orientkaj metro station.
Solveig Rannje, Velliv’s head of real estate, said: “The investment fits perfectly into our property strategy,” adding that the asset would also produce a solid long-term return.
To read the digital edition of the latest IPE Real Assets magazine click here.
