PensionDanmark has bought two office properties in Aarhus, its first direct investment in commercial units in Denmark鈥檚 second city.
The two properties, acquired for DKK555m (鈧�74.5m), come as part of the pension provider鈥檚 efforts to diversify its commercial property portfolio.
The deal sees it assume ownership of 23,600sqm of office space across the multi-tenant Company House in the district of Skejby, adjacent to several colleges, and a property in central Aarhus used by consultancy BDO Denmark as its headquarters.
Torben M枚ger Pedersen, chief executive at PensionDanmark, said both properties were attractive for their vicinity to a new light rail line, the Aarhus Letbane, set to open within a year.
鈥淲e expect the investment to provide a good, and stable, return,鈥� he said.
Torben Black, chief executive of seller OW Obel Ejendomme, praised the pension fund as one of Denmark鈥檚 largest and most reputable landlords.
The pension fund also recently completed its .
All three investments come as a part of PensionDanmark鈥檚 strategy to , focusing on energy-efficient units.
It last year appointed .
