09.08.2021

KanAm Grund Group enters into strategic joint venture with AP Pension in project development in Copenhagen

  • Joint venture in the emerging urban district Nordhavn of the Danish capital
  • Pre-let on long term lease contracts as new HQ of Nykredit and AP Pension
  • Targeting DNGB Gold Certification at completion in 2023 

The KanAm Grund Group has entered into a strategic joint venture with AP Pension for the new headquarter of Nykredit and AP Pension on behalf of a specialized real estate fund. The property is fully let for a term of ca. 15 years. The parties have agreed not to disclose the price. 
 
AP Pension, as the fourth largest private pension provider in Denmark, not only acts as a tenant, but also as the seller and joint venture partner on this transaction. AP Pension and KanAm Grund Group look forward to the long-term collaboration on this project as well as other potential projects. 
 
The northern harbor of Copenhagen is an attractive destination for many (international) tenants due to its proximity to the city centre and water. The large number of well-known institutions and companies located in the Nordhavn – such as the United Nations (UN), the German Embassy, BlackRock, SAP, PFA Pension, Accura, Kromann Reumert and Cisco Systems – is a testament to the attractiveness of the micro location. The property will act as the new headquarters for Nykredit and AP Pension. The lettable area is estimated at ca. 75,000 square meters and is scheduled to be completed in 2023. An environmental certification according to the German standard DGNB in gold is targeted. In addition to the two central offices, the project in Copenhagen will include additional office areas with up to 450 workstations and a shared parking garage with around 287 parking spaces for cars and around 1,500 spaces for bicycles. In addition, a publicly accessible “folk kitchen” (“Folkekøkken”), a gym, and a roof terrace with an orangery or café are planned. 
 
This deal joins a growing family of specialized real estate funds from the KanAm Grund Group for institutional investors. The Frankfurt-based KanAm Grund Group is continuously expanding these portfolios for institutional investors. This includes the Fokus Süddeutschland Fonds as well as other KanAm Grund Group funds that invest in Europe beyond Germany. Properties from these funds are located in France, Great Britain, Belgium, the Netherlands, Luxembourg, Switzerland and Germany, among others. Depending on the investor strategy, KanAm Grund Group offers investments in office, hotel, retail and logistics properties in core, core plus, value add and development risk classes: in Germany, Europe and North America. The customers of this KanAm Grund Group fund family include banks with their Depot A investments, companies and church assets, pension and pension funds as well as high-net worth family assets.

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