Heimstaden Bostad confirmed today that it has sold a large residential property it developed in a Copenhagen suburb to the Danish labour-market pension fund PenSam.
The European residential property firm said the DKK170bn (鈧�22.8bn) occupational pension fund completed the purchase of the asset, Kamilliehuset - which comprises 145 residential units - by late December 2024.
The property was competed in 2022, Heimstaden Bostad said, and spans 19,959sqm in all, including 13,397sqm of residential space, 1,079sqm of commercial space and 5,483sqm of parking.
Jeppe Starup, PenSam鈥檚 head of private capital and real assets, told 91传媒在线 the investment strengthened the pension fund鈥檚 portfolio of rental properties 鈥渁nd supports our ambition to build a portfolio of quality assets with a strategic focus on the greater Copenhagen area within both residential and commercial real estate鈥�.
鈥淭he property鈥檚 great location, solid qualities and long-term value will contribute to our goal of delivering stable and attractive returns to our 500,000 pension members,鈥� he said.
Heimstaden Bostad was set up in 2013 by Norwegian billionaire Ivar Tollefsen鈥檚 real estate company Heimstaden and Sweden鈥檚 largest pension fund Alecta.
Christian Fladeland, co-chief executive officer of Heimstaden, said: 鈥淲e are pleased to transfer this high-quality asset to a new, dedicated owner who will continue to serve the tenants.
鈥淭his is a testament to our value creation via hands-on asset management throughout the development, leading to the stabilisation of the asset and, eventually, this divestment,鈥� he said.
The seller said Kamilliehuset was located centrally, being 900 metres from the centre of R酶dovre, a west Copenhagen suburb.
According to a report on Danish property news service Ejendomswatch, the transaction was worth just under DKK500m.
Asked for confirmation to 91传媒在线, however, PenSam declined to disclose the size of the investment.
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