Pension fund PensionDanmark has purchased the newly-built headquarters of Denmark’s railway operator Banedanmark from property developer KBC, which is able to handle the property.
The funding is a part of a public-private partnership (PPP) settlement between PensionDanmark, KBC and the Danish Constructing and Property Company, which is renting the property.
The 9,500sqm property was constructed by KPC from recycled brick and is positioned in Ringsted, 60km to the west of Copenhagen.
PensionDanmark wouldn’t disclose the worth of the funding
Marius Møller, actual property director at PensionDanmark, stated: “We’re actually happy about this funding, during which we’re actively contributing to the group and on the identical time getting a secure return on our members’ pension financial savings.”
He stated it allowed Banedanmark to occupy fashionable headquarters with out the state having to tie up capital within the property, whereas PensionDanmark would profit from having a long-term, secure tenant.
Jesper Jørgensen, director at KPC, stated the mission had been the primary PPP his agency had undertaken with PensionDanmark, and that he noticed good alternatives for cooperation with the pension fund on comparable tasks sooner or later.
PenSam buys three capital metropolis properties, suggested by Fokus
Denmark’s PenSam has invested €81m in a trio of central Copenhagen properties, consisting of latest and newly-converted house to be used as residences, retail models and workplaces.
The properties had been bought for just below DKK600m (€81m) and include 74 newly-built residences and seven,150sqm of business house, the DKK155bn pension fund stated.
All three property offers had been suggested by Fokus Asset Administration, which is able to now handle the buildings.
They embody a constructing on the nook of Linnésgade and Frederiksborggade with a basic 1877 facade, a 5,560sqm fashionable property within the metropolis’s Østerbro district which was transformed final 12 months from workplaces to flats, and one other two buildings in Østerbro with mixed house of round 7,000sqm.
The latter two buildings are a residential property with 31 residences, and an workplace/laboratory constructing at the moment getting used to analyse COVID-19 assessments.
Carsten Gröhn, head of personal capital and actual property at PenSam, stated: “We grasped the alternatives to purchase three good properties in good areas in Copenhagen near the metro, parking and buying.
“I’m certain the properties will probably be an excellent funding for our pension clients, and we’ll now get going with optimising the buildings’ sustainability.”
AMF pumps SEK400m into amusement parks agency as pandemic closures chunk
Swedish pension fund AMF is investing SEK400m (€39m) in amusement-park firm Parks and Resorts Scandinavia, persevering with its technique of investing in viable firms in want of recapitalisation due to the consequences of the coronavirus.
AMF stated the privately-owned Swedish firm had gross sales totalling SEK1.3bn in 2019, however was unable to open all of the parks it owns and operates as deliberate this 12 months.
The corporate owns the Kolmården, Gröna Lund, Furuviksparken and Skara Sommarland parks.
The pension fund — considered one of Sweden’s largest — instructed IPE Actual Belongings it was investing within the type of choice shares within the agency, which may very well be repurchased or transformed into regular shares on the finish of the five-year time period, and that the funding was inside its conventional insurance coverage portfolio and could be dealt with by its fairness crew.
Anders Oscarsson, head of fairness at AMF, stated: “Parks and Resorts is a fantastic and principally well-run firm with a number one place within the Swedish hospitality trade that has been hit very onerous by the pandemic’s penalties.”
He added that AMF believed the funding would supply good, long-term returns for its members, whereas additionally giving the corporate the power to outlive the disaster “and are available out robust on the opposite facet”.
Christer Fogelmarck, CEO of Parks and Resorts Scandinavia, stated: “The truth that a long-term investor like AMF believes in us supplies each self-confidence and a chance to take care of the required fundamental construction.”
In April, AMF introduced it had earmarked as much as SEK5bn to help companies via the COVID-19 disaster, investing fairness in firms during which it was already a long-term proprietor.