Ontario Teachers’ Pension Plan has entered the Danish real estate market after acquiring a portfolio of seven residential assets from investor Koncenton in a joint venture with local operator H Capital.
The Canadian pension fund has invested an unspecified sum to acquire the fully let multi-family properties across Copenhagen and Aarhus, complementing existing residential portfolios in the UK, Sweden and Germany.
The Danish entry follows the pension fund’s push into the German residential market in March, when it established a joint venture with local operating partner DW Effectum Residential as part of the wider European strategy.
Jenny Hammarlund, executive managing director, real estate at Ontario Teachers’, said: “We’ve deliberately sought exposure to high-quality, urban rental markets in Europe to help build a resilient, income-generating portfolio.
“This residential investment in Denmark complements our existing portfolio of assets in the UK, Sweden and Germany, in which we are focused on both enhancing the tenant experience and improving asset performance over the long term.”
Kristian Foss, partner at H Capital, said: “This joint venture combines Ontario Teachers’ long-term investment horizon with our hands-on knowledge of the Danish residential market. We thank the Ontario Teachers’ team for their trust and dedication in bringing this new partnership to life.
“This transaction is the first step in our joint Danish living strategy and one we look forward to developing further together in the years ahead.”
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