PFA makes its largest property investment to date

PFA has signed an investment deal for DKK 6.6 billion (EUR 885 million) in German property -- the pension fund's single largest property investment so far.

Photo: PFA

Denmark's PFA is investing DKK 6.6 billion in German residential property with a development potential of DKK 1 billion (EUR 134.2 million), according to an announcement from the commercial pensions provider.

PFA Ejendomme's acquisition of the German residential properties is the property arm's largest individual investment to date and was carried out in cooperation with Domicil Real Estate GmbH.

Michael Bruhn, Head of RE at PFA, points out that the investment is a pivotal part of the strategy of looking outside Denmark to get the best possible returns for customers.

"The investment is one of PFA's most remarkable investments to date and is in line with our focus on direct and megatrend-driven property investments. It provides a unique exposure to residential as well as commercial property in the growing property market in Europe's leading economy," he says in the announcement.

Bruhn stresses that many of the properties are located in hubs such as Berlin, Düsseldorf and Munich, and believes that there is huge potential for a solid, risk-adjusted return to PFA's pension customers.

English Edit: Lisa Castey Hall Nielsen

More from AMWatch

Pensions sector responds to "unnuanced" carbon report

In a new report, NGO Mellemfolkeligt Samvirke criticized the pension sector for its DKK 22bn investments in fossil fuel expansion. An industry organization has now responded, saying the report ignores the complicated nature of the issue.

Further reading

Latest news

Watch job

See all jobs

See all jobs

Latest news from FinansWatch (dk)

Latest news from EnergyWatch

Latest news from ShippingWatch