PensionDanmark invests €50m in Jutland office projects
Labour-market scheme PensionDanmark is investing DKK381m (€51m) in two office building projects in Jutland.
The pension fund said it was putting DKK255m into constructing a new headquarters for engineering firm Semco Maritime in Esbjerg.
PensionDanmark said this was its first real estate investment in the west Jutland port.
Torben Möger Pedersen, the pension fund’s managing director, said: “With the Semco Maritime headquarters, we are spreading our property portfolio more broadly.”
At the same time, the project meets the demands the pension fund made of its real estate investments, he said.
He said it was a high-quality construction in an attractive location with a good tenant on a long lease.
The new property is part of the new Esbjerg Strand project, where many other businesses would build their offices.
Work is scheduled to start in June this year, and the building ready for occupation by January 2016.
PensionDanmark is also investing DKK126m to build a new office for Alfa Laval in the city of Aalborg.
PensionDanmark said this would be its first real estate investment in Aalborg and would supplement its existing holdings, which were spread geographically in the Copenhagen area, Aarhus, Odense and the Triangle Region (Trekantområdet) of east Jutland.
Construction is set to start this month, with the building scheduled to be ready for occupation in April 2015.
PensionDanmark said it had already invested more than DKK12bn in Danish commercial and residential property and aimed to invest a further DKK2bn a year in property in the next few years.