Rubik Properties is taking over the management of a portfolio of more than 31 assets owned by a number of Danish pension funds including DC Pensionskasse, P+ and Pensionskassen for Akademikere.
Rubik has been awarded the mandate to manage Commercial Real Estate Denmark鈥檚 (CRED) 427,000sqm portfolio of properties worth around DKK7.5bn (鈧�1bn).
CRED counts L忙gernes Pension, P忙dagogernes Pension and Aage V Jensen鈥檚 fonde among its backers. The open-ended fund鈥檚 properties include centrally located office properties in Copenhagen and some logistics and retail properties in Jutland.
Rubik will assume the new role on January 2025 alongside CRED鈥檚 property manager Cobblestone.
Daniel Hedemann, COO at Rubik Properties, said: 鈥淲e are looking much forward to the collaboration with the property fund Commercial Real Estate Denmark and not least starting the work, in collaboration with Cobblestone, and repaying the trust by ensuring a stable and profitable management of the fund鈥檚 assets.鈥�
Jacob Smergel-Krog, CEO at Rubik Properties, said: 鈥淭his management agreement is a recognition and proof that Rubik Properties鈥� international management principles characterised by aligned interests between the manager and the client, process security and process management, systematic focus on performance and radical transparency are valued highly by Danish investors.鈥�
Chairman of the board Leif Stidsen from Commercial Real Estate Denmark, said: 鈥淲e on the board believe that further value can still be created in the portfolio. It sometimes requires new eyes on the properties, and we have therefore decided that the time has come to make a change of manager.鈥�
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