Pensiondanmark buys unfinished bank offices for DKK 200 million

Pension fund Pensiondanmark has bought two unfinished properties in Danish province towns Odense and Kolding. The new tenant is already ready to move in.

Danish pension fund Pensiondanmark has purchased two future corporate properties in Denmark, both of which will be leased to Danske Bank. The two investments total DKK 232 million (EUR 31.2 million), writes the pension fund in a press release.

One property is located in central Odense, where the pension fund has bought Danske Bank's local headquarters of 4,550 square meters with a further 1,500 square meters of basement space for DKK 143 million. The other property is located in the provincial city Kolding and will boast 4,117 square meters with 1,500 square meters of basement space. This property was acquired for DKK 89 million.

"These are two attractive quality properties in good locations and with a solid tenant in Danske Bank, which we already have a positive collaboration with as tenant in other properties. For this reason, the members can look forward to good returns for many years. Meanwhile, the buildings will create jobs for many construction workers while they are under construction. This a an added bonus to the investment. With the investment in these properties, we are showing that Pensiondanmark is an active property investor in all of Denmark," says Torben Möger Pedersen, CEO of Pensiondanmark, in the statement.

The seller is Danish entrepreneur company KPC Herning, which is building a new public school worth DKK 200 million, among other projects, as FWAM sister site EjendomsWatch reported on Feb. 24 this year.

"We build financial hubs for Danske Bank several places in the country right now. And we consider it an approval of our company, that Danske Bank chose us to develop and build the financial centers which will all have the same architectural theme. Meanwhile, with the sale of these two properties, we have expanded the good partnership with Pensiondanmark, with which we have carried out several projects across Denmark recently," says Henrik Hoffman, Development Manager at KPC Herning, in the statement.

Both buildings have been designed by Arkitema and are expected to be ready for takeover in the spring of 2018.

English Edit: Marie Honoré

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