KOMBIT, the joint IT partnership of the Danish municipalities, has sold three properties to PensionDanmark, Denmark’s largest labour market pension fund, for DKK 1.2 billion.

The three properties are of high quality and are located in Ballerup, Odense and Aalborg. The properties have a total gross floor area of more than 88,000 square metres. The IT company KMD is leasing the properties and will continue to do so after the transaction.

The purchase is part of PensionDanmark’s investment strategy of increasing property investments to 10% of the balance sheet total, and the properties are expected to produce a considerable return in the next years.

KOMBIT is a project manager, with key competences within complex joint purchases in a municipal IT market in transition, creating  joint municipal IT solutions in cooperation with the municipalities and IT vendors .

The transaction is the implementation of a long-term strategy by KOMBIT for the sale of the properties, of which KOMBIT has never intended to be a long-term owner.

Bruun & Hjejle has advised KOMBIT regarding the sale.