The Danish pension fund Pædagogernes Pension (“PBU”) has once again sold residential properties to the Nordic fund and asset manager Storebrand. The sale concerns seven properties across Denmark, corresponding to 38,193 m2 distributed across more than 440 units located in Copenhagen, Albertslund, Hvalsø, Nyborg and Horsens.
The acquisition is made through Storebrand Nordic Real Estate Fund II and marks the fund’s first investment. As much as 70% of the value of the portfolio is concentrated in the Copenhagen metropolitan area.
This year, PBU has already sold two of the nine assets to Storebrand Nordic Real Estate Fund I, namely two properties located in Copenhagen.
Storebrand manages properties in excess of DKK 60 billion across the Nordic region.
PBU is a pension company which is wholly owned by its 125,000 members. Annually, PBU has real estate investments of DKK 5.2 billion.
Accura advised PBU in connection with the transaction.