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Head of PFA's real estate arm after billion kroner deal: "Properties like these don't have a lot of risk"

PFA tosses DKK 1.9bn at German real estate. Two years ago, the pension investor had a rent dispute with German lease-holders, which attracted a lot of attention. This event, however, has not scared off PFA, according to its executive director.

Photo: Stine Bidstrup/ERH

Two years ago, PFA bought a German real estate portfolio with 3,700 properties worth DKK 6.6bn (USD 1.1bn), but not everything went as expected.

In Munich, in Southern Germany, the state made use of its right to first option and bought back 300 properties, whereas Berlin had demonstrations against PFA, because tenants were worried the rent prices would skyrocket. Eventually, PFA had to give up two properties.

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