From greenfield site to new urban area

A key focus for PFA’s investment strategy is real estate in Danish high-growth towns and cities, while climate-friendly initiatives are also given high priority.



Investing DKK 230 million, PFA acquired the 27,000 m² site close to Slagelse town centre in June 2020. Here, a new urban area will be developed in the coming years, with 150 residential units for young people and 44 family homes.

The Municipality of Slagelse wants a varied housing mix to accommodate the growing demand for rental property, and a master plan for the area will be negotiated on behalf of PFA.

As part of PFA’s real estate strategy and its focus on sustainability, the homes will be built according to the sustainability certification system DGNB Gold.


Sourcing Buyer advisory services Development

The investment opportunity was initially identified by DEAS Asset Management, which turned it into a tangible business plan. PFA acquired the site on the basis of that plan. DEAS Asset Management also assisted with the transaction and buyer advisory services, and is now negotiating the master plan for the area with the Municipality of Slagelse on behalf of PFA.

DEAS Asset Management has been selected as the developer on the project and, in collaboration with PFA and the architects, is now preparing a building programme.

The homes will be built in accordance with the sustainability certification DGNB Gold. The sustainability aspects of the development are a particular focus area, and are being incorporated from the outset, from planning and concept development to documenting all selected solutions. The project’s environmental, financial, procedural, social and technical aspects are also subject to strict requirements.


DEAS Asset Management has identified valuable potential, and now the concept is being proactively turned into a strong, viable business plan to ensure solid returns for PFA.

Slagelse is a very interesting town that has seen significant population growth in recent years. The size of the site allows us to create a cohesive and attractive urban area close to Slagelse town centre,

says Mikael Fogemann, Executive Director, Nordic Real Estate at PFA Ejendomme.

By assisting with the transaction and providing buyer advisory services, DEAS Asset Management has addressed all risk aspects and ensured PFA the best possible terms in connection with the acquisition.

We are working according to a well-tried method , in which the creative concept development process, commercial potential, practicalities and financing all come together. This ultimately ensures the realisation of the new area which meets the high ambitions while ensuring the best returns for the pension provider’s members.

By incorporating sustainability in all aspects right from the project start, DEAS Asset Management meets PKA’s wish to achieve the sustainability certification DGNB Gold, which also guarantees the long-term value of the properties.

At the same time, careful preparation of the building programme ensures the most effective utilisation of the site with attractive homes being built for several segments.

Transforming the site into a residential area is a multi-phase process, with the 150 units for young people and 44 family homes expected to be completed by autumn 2022.