Danish pension fund PenSam has teamed up with Cromwell Property Group to launch a partnership to invest in light-industrial and logistics real estate in Denmark and Sweden.
Cromwell will invest an initial €200m for PenSam over three years.
PenSam said the strategy has a core-plus risk-return profile with the aim of “creating a portfolio of sustainable logistics properties through active asset management, leveraging Cromwell’s strong local presence and expertise”.
Jeppe Starup, head of private capital and real assets at PenSam, said: “This strategy and co-operation with Cromwell, who have impressed with their high quality in investment management and strong ESG profile, will strengthen our portfolio with superior properties in strategic locations. The strategy is in line with our sustainability profile and will contribute to ensuring a stable and attractive return for our 500,000 pension customers.”
Pontus Flemme Gärdsell, head of Northern Europe at Cromwell Property Group, said: “We are delighted to be partnering with PenSam. This is an opportune time to be investing in the Danish and Swedish logistics markets, as there is strong occupier demand and a shortage of modern, sustainable space. Entry pricing is attractive, and the investment market is established and liquid”.
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