Danish pension fund for industrial workers, Industriens Pension, is buying a multi-tower office block in Aarhus, which is expected to be completed in the second half of 2022, from a Danish family-owned developer.

The labour-market pension fund said the commercial asset, located in Denmark’s second-biggest city, would comprise 14.459sqm of leasable area, and was expected to achieve the German Sustainable Building Council’s gold certification for sustainability.

Søren Tang Kristensen, head of real estate at Industriens Pension, said: “Since 2019, we have invested more than DKK2bn (€269m) in Aarhus, and we want to continue to expand our presence in the city with sustainable quality buildings.”

The DKK216bn pension provider said the seller of the property - named Byporten Syd and situated in the west of the city - was Aarhus-based developer Dansk Erhvervsprojekt.

Industriens Pension said tenants had already been selected for the majority of the property, which it said was to be built for flexible use, both as a multi-user property and as headquarters, and with the option to divide the lease up.

The pension fund declined to divulge the value of the transaction.

Back in January, labour-market pension fund PensionDanmark bought an office development in Aarhus from NCC Property Development for DKK610m, comprising of 17,000sqm of space.

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