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Denmark's largest commercial pension fund buys office building for 640M kroner

Denmark's largest commercial pension fund, PFA Pension Forsikrings A/S, purchased a 20,000-square-meter office building in Copenhagen from Jyske Bank A/S for 640 million Danish kroner, IPE Real Assets reported.

According to the report, the property is the headquarters of Danish mortgage lender BRFkredit, a unit of Jyske Bank.

Michael Bruhn, real estate director at PFA, said the property will remain the lender's head office on a leasehold basis.

As of June 29, US$1 was equivalent to 6.39 Danish kroner.