DENMARK - Pensionskassernes Administration (PKA) has committed DKK400m (US$75m) to a real estate project in Manhattan, New York. PKA will participate in the regeneration and subsequent rental of Peter Cooper Village/Stuyvesant Town, purchased in a joint venture between BlackRock and Tishman Speyer Properties for US$5.4bn a year ago.
Nikolaj Stampes, head of real estate at PKA, told Global Pensions: “We didn’t set out to invest in the US, but as we are opportunistic we found this prospect too interesting to let go.”
New York City 2010
