Danish asset manager Rubik Properties has been appointed to manage a DKK 7.5 bn (€1 bn) real estate portfolio in Denmark from 1 January 2025.
The portfolio, which includes 31 properties totaling 427,000 m2, was previously managed by the real estate fund Commercial Real Estate Denmark on behalf of Danish pension funds and foundations.
Rubik Properties will handle asset management, while Cobblestone will continue to provide property management services.
The portfolio primarily consists of centrally located office buildings in Copenhagen, along with some logistics and retail properties in Jutland.
Daniel Hedemann, COO at Rubik Properties, said: ‘We are looking much forward to the collaboration with the property fund Commercial Real Estate Denmark and not least starting the work, in collaboration with Cobblestone, and repaying the trust by ensuring a stable and profitable management of the fund's assets.’
Jacob Smergel-Krog, CEO at Rubik Properties, commented: ‘This management agreement is a recognition and proof that Rubik Properties' international management principles characterized by aligned interests between the manager and the client, process security and process management, systematic focus on performance and radical transparency are valued highly by Danish investors.’
Leif Stidsen, chairman of the Board of Commercial Real Estate Denmark, added: ‘We on the board believe that further value can still be created in the portfolio. It sometimes requires new eyes on the properties, and we have therefore decided that the time has come to make a change of manager.’
