International Investment specialists AEW has made its first acquisition in the European life science sector on behalf of its recently-launched, open-ended EUROCORE fund.

The 32,755sqm, fully-let Sydmarken life sciences campus in Copenhagen will be the first of many. EUROCORE’s initial funding round closed on €415m of equity commitments and it aims to target a future-proof, diversified portfolio of core assets.

Greater Copenhagen’s life science industry is a world leader in R&D, clinical trials and drug development, forming a central pillar of the Medicon Valley bi-national life science cluster, spanning eastern Denmark to southern Sweden.

Christina Ofschonka, Senior Fund Manager for EUROCORE at AEW, said:“We have been seeking opportunities in the emerging life sciences sector given the highly resilient income it offers driven by strong underlying fundamentals.

“Across Europe the sector is characterised by low supply of good quality and highly specific stock that occupiers require, coupled with increasing demand that was already fuelled by increased government and private investment into healthcare and pharmaceutical research and manufacturing, even before the pandemic brought it into even sharper focus.

“Copenhagen’s life sciences industry is seen as a world leader and this asset is at the forefront of that reputation.”

All of Sydmarken’s buildings are occupied on long leases – the average lease-to-expiry is 14 years – to well-known businesses in the pharma, medical and food production industries. The main occupiers include Zealand Pharma and Ferrosan Medical Devices.

AEW was advised by Bech-Bruun, KHR and Colliers.

The Sydmarken life sciences campus in Copenhagen