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Pension fund buys office building of 42.000 m2

Written by Fokus Asset Management - Posted at 1/10/2018

Among others, Fokus Asset Management has assisted Pensam with the sale of Tietgens Have. In relation to Pensam’s acquisition of the property, Fokus Asset Management has developed a strategy for the property, with the aim to have it implemented after the purchase. Fokus Asset Management congratulates both parties on the deal and looks forward to work with Pensam in the continued process.

Full story from estatemedia.dk:

Pension fund buys office building of 42.000 square metres for almost a billion Danish kroner

The property “undeniably has great potential”, the foreign seller of the building complex says. Kammeradvokaten and Plesner have been involved in the deal.

Pensam is buying the 42.000 square metres building complex “Tietgens Have” situated on Østbanegade 121-125 in Copenhagen Ø directly across from the train station Nordhavn.

The property is largely let to tenants from the public sector – including the Danish customs and tax administration Skat, DIIS (Dansk institut for internationale studier; Danish Institute for International Studies), and the municipality of Copenhagen.

-Tietgens Have is a great fit in Pensam’s portfolio of properties, and we see it as a long term investment with great potential. The current constellation of tenants has also been an advantage, and even though the keys are not formally handed to us before November 1st we are already communicating with the tenants, says Carsten Gröhn, manager of alternative investments in Pensam.

Casten Gröhn tells Estate Media that the parties have agreed to not divulge the exact price, but that it is “almost a billion Danish kroner”.

The Swedish property fund Niam is the seller of the property.

-Years ago when we acquired the property, development in the Nordhavnen area was still in its early stages and few had imagined that the area would undergo such a rapid and positive development. The property undeniably has great potential, country manager Kristian Krogh says.

Fokus Asset Management and Kammeradvokaten/Advokatfirmaet Poul Schmith have been the primary advisors for Pensam, while Plesner has assisted Niam.