The Danish Medical Doctors’ Pension Fund buys property portfolio from M. Goldschmidt HoldingPosted at 8 September 2017
In one of the biggest property transactions of the year, the Doctors’ Pension Fund acquired a range of commercial and residential properties in Copenhagen from M. Goldschmidt Holding.
The portfolio consists of 11 properties, totalling 50,000 m2 spread throughout Greater Copenhagen, including commercial and residential properties in Vanløse, Vesterbro, Ørestad, Frederiksberg, Hvidovre and Lyngby.
“This is an interesting investment with the prospect of a sound and long-term return for our members. All of the properties are well-run, and the healthy mix of office space and homes with multiple tenants diversifies the risk. Several of the properties also have development potential, such as existing planning permission and the option to convert loft spaces,” says Jan H. Willard, the Fund’s head of equities and alternative investments.
The portfolio includes Enghavevej 40, home to the famous Vega music venue in Vesterbro, the office part of the award-winning 8 House in Ørestad South, five properties in Frederiksberg and two mixed-use properties near the future shopping mall Kronen in Vanløse.
“We are delighted with the deal, which emerged from what turned out to be a very positive negotiation process, especially given the high demand for centrally located properties at the moment. The Fund will be a good long-term owner and will get the most out of its investment, while we concentrate out attention on the planning and building of 1,300 homes in central Hillerød,” says Søren Bjørn Hansen, deputy administrative director of M. Goldschmidt Holding.
- Goldschmidt Holding has a two-pronged property strategy: long-term investment in Grønningen and the central Copenhagen area around Østerport Station; and the development and resale of properties in greater Copenhagen.
The transaction was mediated by Lintrup & Norgart A/S, who acted as exclusive adviser to M. Goldschmidt Holding. During the negotiations, the Pension Fund was represented by Focus Asset Management A/S, who will also manage and run the properties.
The parties do not wish to disclose the purchase price.
Communications Manager Sophie Randrup,
the Danish Medical Doctors’ Pension Fund: tel.: (+45) 33 47 81 67
Deputy CEO Søren Bjørn Hansen, M. Goldschmidt Holding: tel.: (+45) 33 63 09 00
Partner and Managing Director Stig Lintrup, Lintrup & Norgar: Mobile (+45) 40 97 17 17