The Public Sector Pension Investment Board, along with Aviva Investors, is buying Galleri K, a real estate asset in Copenhagen, Denmark.

The four-story building, which includes retail and leisure space, office space, storage and parking, is currently leased to many national and international brands.

The deal builds on past co-investment partnerships between PSP Investments and Aviva Investors, including two in the U.K. — a £250-million deal in commercial property in Cambridge in 2019 and a deal worth more than £400 million in central London in 2015.

Read: PSP Investments sells off Paris office building

“As we continue to expand our partnership with Aviva Investors, we are thrilled to be entering Copenhagen, a supply-constrained market that is recognized as a top European tech hub and benefits from a highly educated labour pool,” said Stéphane Jalbert, managing director of Europe and Asia Pacific, real estate investments at PSP Investments, in a press release. “This acquisition is in line with our strategy to invest in key innovation markets.”

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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