Pension fund depreciates property portfolio by EUR 53.6 million due to regulatory change - may write off more
Pension fund P+ reported that it had written off EUR 53.6 million (DKK 400 million) of its real estate portfolio due to concerns about new legislation. The plan for the new regulations was revealed in January, and further depreciation may be a possibility, says CIO Mikkel Svenstrup, who is waiting for the final legislation.
P+, which was created after the merge of DIP and JØP, decided to cut out EUR 53.6 million (DKK 400 million) of its Danish rental property portfolio in 2019.
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