The KanAm Grund Group has acquired a 50 percent stake in Svanemølleholm in Copenhagen. The fund and asset manager has entered into a joint venture with AP Ejendomme - one of Denmark's largest commercial pension funds. The company is thus investing in a landmark and highly sustainable building complex that serves as the new headquarters of Nykredit and AP Pension. The KanAm Grund Group acted for one of its specialized real estate funds on behalf of a north German pension fund.
Svanemølleholm is located in what is currently the Danish capital's most dynamic location with excellent transport links within the city. It is the largest and arguably the most ambitious urban development project in Scandinavia. Numerous renowned companies and government buildings are based there, including the Central Bank of Denmark and the German Embassy. The property consists of three building sections and covers around 75,500 square meters. Following completion the complex will serve as the headquarters of Nykredit and AP Pension – the parent company of AP Ejendomme – both of which have signed 15-year leases.
When developing the project great importance was given to best in class architecture and sustainability. The three buildings are DGNB Gold and Diamond certified and comply with section 7.7 of the EU Taxonomy. The canteen offers high ecological standards and has a Nordic Swan Ecolabel accordingly.
Anthony G. Bull-Diamond, Managing Director and Head of Investment and Asset Management Europe at the KanAm Grund Group, says: “The transaction is further evidence of our pan-European expertise and strategy of investing into prime offices across key European cities and leveraging this advantage for our investors. With this strategic joint venture, we are delighted to join forces with AP Ejendomme in facilitating a long-term cross-border partnership of pension institutions.”
Peter Olsson, CEO of AP Ejendomme, adds: “We are also delighted to collaborate closely with KanAm Grund Group to offer a great working environment for employees in Nykredit and AP Pension here on Svanemølleholm. With the sale of half of the shares, we are entering into a long-term partnership.”