Hines’ Acquisition of Portland Towers Office Building In Copenhagen

Plesner advised Hines.

Hines has acquired the iconic Portland Towers building in the heart of Copenhagen, Denmark. The asset was purchased from three Danish pension funds; PFA, ATP and Pension Denmark on behalf of the Hines Pan-European Core Fund (HECF).

Portland Towers consists of two former silos, which were converted for multi-tenant office accommodation in 2014. Located along Copenhagen’s waterfront in Nordhavn, the property comprises 12,753 square metres of office space and is fully let to a prestigious tenant mix. Tenants include the embassy of the Federal Republic of Germany, corporate finance advisory firm FIH Partners, consultancy firm PA Consulting Group and Dansk Standard, Denmark’s national standardisation organisation.

Portland Towers set new standards for sustainable building design, construction and operation during its BREEAM certification in 2014. HECF’s investment in Portland Towers underlines the fund and Hines’ commitment to achieving high levels of sustainability and ESG performance across its portfolio.

The acquisition follows the fund’s acquisition of 121 apartments at Trikotageparken, north Copenhagen, in April. Since 2019, HECF has sought to increase exposure to office, residential and urban logistics assets in the Nordics and Portland Towers forms part of HECF’s wider strategy of seeking high quality Core assets in European cities with strong long-term growth prospects.

Hines is one of the largest privately held real estate investors, managers and developers in the world.

Plesner’s team consisted of Lasse Stjernholm Detlevsen (Picture), Ninna Thalund Daugaard, Simon Winther Bjerregaard, Maj Signe Mønsted and Thomas Maaberg Hansen.

Involved fees earner: Lasse Stjernholm Detlevsen – Plesner; Thomas Maaberg Hansen – Plesner; Maj Signe Mønsted – Plesner; Ninna Thalund Daugaard – Plesner; Simon Winther Bjerregaard – Plesner;

Law Firms: Plesner;

Clients: Hines;