Danish pension fund AP Pension's real estate portfolio was worth EUR 67 million (DKK 500 million) more at the end of 2019 than at the end of 2018, primarily due to increases in value, the year-end report for the company's property business, AP Ejendomme, shows.
The value of the existing portfolio now totals EUR 615 million (DKK 4.6 billion), and a further EUR 214 million (DKK 1.6 billion) is under construction, giving a total value of EUR 830 million (DKK 6.2 billion). This higher value reflects the fact that the average minimum return requirement has been lowered from 5.8 to 5.3 percent.
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