PensionDanmark has acquired five commercial properties for EUR 134 mln and announced plans to 'significantly' increase its exposure to real estate over the next 2-3years. In a recent statement, the Danish pension fund said that it intends to increase its property portfolio to EUR 1.2 bn, from roughly EUR 750 mln at present.
PensionDanmark has acquired five commercial properties for EUR 134 mln and announced plans to 'significantly' increase its exposure to real estate over the next 2-3years. In a recent statement, the Danish pension fund said that it intends to increase its property portfolio to EUR 1.2 bn, from roughly EUR 750 mln at present.
PensionDanmark has acquired nearly 30,000 m2 of commercial space, including four office buildings let to pension funds Finanssektorens Pensionskasse (Financial Sector Pension Fund), Lærernes Pensionskasse (Teachers' Pension Fund), trade association Forsikring & Pension and law firm Advokatfirmaet Horten. The assets are all located in the Tuborg Syd area of the northern Denmark city of Hellerup.
The fifth building is located in Hjørring, northern Denmark, and is leased to the Ministry of Finance's Palaces and Properties Agency. The asset, formerly a Nestle factory, was recently redeveloped in line with a project designed by architects Aarhus Kjaer & Richter. Hoffman was the general contractor.
'They are all high-quality, well located and well leased assets with contracts for long periods. This is what we consider most important when we choose to invest in commercial real estate,' said Soren Ulslev, head of property investments at PensionDanmark.
