Denmark’s largest commercial pensions provider PFA has awarded a second mandate to La Française Real Estate Managers (REM) to initially acquire €300m worth of properties in Europe.
The DKK730bn (€98.2bn) Copenhagen-based pension fund has given La Française REM €200m to invest in seniors housing complexes and awarded the manager €100m to target private rental sector properties in France and Belgium.
The latest mandate expands the relationship between PFA and La Française REM which started in late 2019 when the pension fund awarded an initial mandate for the acquisition and management of a French senior housing portfolio.
Michael Bruhn, managing director of PFA, said: “We have successfully worked with La Francaise for a few years and are now expanding our relationship to further grow our residential and managed residential strategies in Europe.”
David Rendall, managing director of La Française Real Estate Managers - institutional division, said: “La Française and PFA have been working successfully together for over two years. PFA awarded us an initial €100m mandate in October 2019 for the acquisition and management of a French senior housing portfolio. Having successfully deployed this capital, we are delighted to be further developing our partnership and expanding our geographic focus to other European countries and our strategy to the PRS sector.
“We will certainly be able to leverage to PFA’s advantage our international real estate investment platform which includes investment teams across Europe.”
To read the latest edition of the latest IPE Real Assets magazine click here.