Rubik has entered into a significant strategic partnership with PFA, which involves taking over the management of PFA's commercial portfolio. The management agreement supports Rubik's ambition to be the preferred manager for Danish institutional investors.

The portfolio, which PFA has built up over a number of years, consists of just over 70 properties with a total value of DKK 24 billion. It includes, among other things, almost 40 multi-user properties, including The Union office hotel concept, a number of project properties and 26 owner-occupied properties. The properties are primarily leased for office purposes, with individual units leased for residential purposes.

"We look forward to the new collaboration with Rubik and Cobblestone, which will help to raise the quality and future-proof the portfolio. Good and efficient management of our properties ultimately helps to ensure PFA's 1.3 million pension customers stable and competitive returns," says Peter Morgan, Head of Real Estate, PFA Ejendomme.

Jacob Smergel-Krog, CEO, Rubik, states:

"Rubik has a clear ambition to be the preferred manager for Danish institutional investors. With a focus on structure, transparency and value-creating management, Rubik wants to offer a platform that matches the highest requirements for institutional property management in Denmark. We are therefore naturally very proud that PFA has selected Rubik to manage their significant commercial portfolio and at the same time very aware of the responsibility we are being entrusted with. The collaboration with PFA is fully in line with our strategy of entering into close strategic partnerships with Danish pension companies - just as we did with the acquisition of the DKK 7 billion AIFM regulated property fund 'Commercial Real Estate Denmark' earlier this year."

Around 80 percent of PFA's property portfolio is located in Greater Copenhagen, including Copenhagen and North Zealand, while the rest of the portfolio is located on Funen and in Jutland. Rubik is therefore simultaneously establishing a new office in Aarhus, ensuring efficient and local management of the portfolio from both Copenhagen and Aarhus.

In connection with the acquisition, Rubik has entered into a comprehensive property management and operating agreement with Cobblestone, which will be a significant strategic partner in the future management of the portfolio. The collaboration is closely integrated and validated, and builds on a successful collaboration around a large AIFM-regulated property fund on behalf of Danish pension companies and a large global investor with international management requirements.

The transfer of PFA's property portfolio also includes a business transfer of employees to Rubik and Cobblestone, respectively, which marks the beginning of a new joint chapter with new perspectives, new employees and strengthened competencies.

Daniel Hye Hedemann, COO of Rubik, adds:

"As a management organization, Rubik is a guarantor of structure, process security and process management - including the ability to identify and realize value creation. We are therefore very much looking forward to the onboarding of this exciting portfolio, which PFA has wanted to integrate under Rubik's platform, just as we are very much looking forward to the long-term management cooperation with PFA and the arrival of the new colleagues."

Ashkan Ahmadinia, CEO of Cobblestone:

"We are very proud to be chosen as a strategic partner in the management of one of the country's most significant property portfolios. At Cobblestone, it is our professional weight, high quality standards and dedication that ensure that we can deliver value-creating administration - regardless of the complexity. We look forward to bringing our experience, our specialists and our commitment to play to the benefit of PFA, Rubik and not least the tenants in the portfolio."