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Transactions - OCTOBER 15, 2020

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Hines fund acquires office tower in Copenhagen

by Released

Hines has acquired the iconic Portland Towers building in the heart of Copenhagen. The asset was purchased from three Danish pension funds — PFA, ATP and Pension Denmark — on behalf of the Hines Pan-European Core Fund (HECF). Price details for the acquisition were not disclosed.

“Copenhagen remains an important target market for HECF given its stability and affordability in the European context as well as its generally strong fundamentals and long-term growth prospects,” said Peter Epping, senior managing director and HECF fund manager at Hines. “Portland Towers is an outstanding asset in an excellent location and with its strong tenant mix and high sustainability performance it fits well into HECF’s approach of strategic investing. Across Europe we continue to see opportunities to acquire high-quality office assets in major cities, alongside our diversification towards residential and logistics.”

Portland Towers consists of two former silos, which were

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