WINNER

"Displayed strong risk management outline in terms of diversification, loan-to-value ratio and shift in underwriting given current market conditions,” judge’s comment

Country

Denmark

Overall AUM

€42,200m

Annual performance

4.60%

PensionDanmark’s portfolio construction secures diversification and long-term revenue by investing in different types of commercial properties, including offices, hotels, retail, logistics, residential real estate and urban areas. The broad composition of the portfolio helps stabilise cash flow in the long term and reduce risk.

PensionDanmark employs diverse real estate investment strategies. Its aim is to maximise returns while promoting sustainability and social responsibility. It diversifies its real estate portfolio across various investment classes and geographical locations. This strategy mitigates risk and enhances resilience to market fluctuations, allowing PensionDanmark to capture opportunities while safeguarding against potential downturns in specific sectors or locations.

In recent years, its focus has increasingly been on developing urban areas in residential assets with high architectural standards and focus on biodiversity and climate solutions for different income groups. Coupled with exposure to commercial properties, this focus defines PensionDanmark’s real estate strategy in the coming years.

To support PensionDanmark’s returns is a commitment to sustainable development. This translates into a holistic approach that considers the impact of projects on local ecosystems and communities and is formalised in both its ‘Programme for Sustainability’ and biodiversity strategy. This sets the framework for how it develops buildings and urban areas to maximise financial returns, while implementing high standards for climate and biodiversity solutions.

During the construction process, PensionDanmark collaborates with local stakeholders, including environmental organisations, community groups and consultants to identify and mitigate potential climate and biodiversity risks associated with its real estate investments. This collaborative approach fosters transparency, trust, and knowledge sharing, enabling PensionDanmark to make informed decisions that balance environmental concerns with financial objectives.

PensionDanmark also participates in strategic partnerships with a broad range of different stakeholders in the real estate industry, addressing societal needs while fostering sustainable development to support its primary goal of securing long-term revenue for its members.

STRATEGIC TAKEAWAYS

➤ Diversification and long-term revenue by investing in different commercial property types

➤ Integrated social responsibility and sustainability policy

➤ Focus on urban areas and engagement with broad range of stakeholders

HIGHLY COMMENDED

Country

Italy

Overall AUM

€55,700m

Annual performance

3.9%

UnipolSai Assicurazioni’s (Unipol) real estate portfolio is valued at nearly €4,200m, with direct investments accounting for the vast majority supplemented by indirect investments through joint ventures and mutual investment funds. In 2022, the Group joined the Net-Zero Asset Owner Alliance, whereby it committed to reducing the emissions of its investment portfolios to net zero by 2050. The renovation and development of Unipol’s real estate assets involved over 120 properties in 2023, including office buildings located in Milan and Turin. In Milan, work is now finished on a new building in Piazza Gae Aulenti in the Porta Nuova Garibaldi area that is designed to receive Leed Platinum certification. This guarantees the highest standards in terms of energy and water savings.

Judged by

Hermann Aukamp
Melville Rodrigues
Ulrikke Ekelund
Sotiris Tsolacos
Lisette van Doorn

Sponsored by