Scandinavia's largest property portfolio sold
Four Danish pension funds have joined forces to acquire Scandinavian industrial and logistics properties at a price of DKK 5bn. To date, this is the largest property transaction in Scandinavia this year, and 650,000 square metres are involved.
PFA, the Medical Doctors' Pension Fund, the pension fund for Danish lawyers and economists (Juristernes og Økonomernes Pensionskasse – JØP) and the Danish Pension Fund for Engineers have entered into an agreement on the acquisition of all shares in six Swedish property funds established by Nordic Real Estate Partner (NREP).
The property funds acquired own a total of 28 centrally located industrial and logistics properties in Denmark, Sweden and Finland and are described as the largest portfolio of industrial and logistics properties in Scandinavia.
Bech-Bruun has advised the pension funds on the acquisition.