Our new leadership team led by CEO Lars Pærregaard is committed to providing high-quality, professionally managed rental housing and being responsible and responsive long-term managers of the portfolio.
We are making our buildings more sustainable for modern living as well as creating new units in previously unused spaces. By the end of 2019, we will have invested approximately half a billion DKK to renovate homes, many of which are over 100 years old.
100% of the income generated by our operations has been reinvested directly back into the properties we own and manage, making them environmentally sustainable and better for our tenants.
There is a significant undersupply of housing in Copenhagen, like in many large Western European cities. In the last decade, the population has grown by almost 20%, whereas housing supply has only grown by 8%.
At just 0.5% of Copenhagen’s rental stock, our portfolio is small and cannot drive the market in any direction. We are committed to adding high quality, well managed rental housing which will help address this supply demand imbalance and create homes and places where people want to live.
Our new Danish leadership team, built from experts within the Danish housing sector, is united in its commitment to significantly improve service for our tenants. We are focussed on building a strong organisation that will be able to own and operate the properties forever and support our tenants in a respectful, responsible and professional way. Read more about our new CEO Lars Paerregaard and the executive team here.
All leases in Denmark are indefinite for the tenant. We always abide by this regulation and all laws. The Rent Control Act protects existing tenants against high rent increases.
We have already invested more than DKK 400 million to renovate homes and make our buildings more environmentally sustainable, bringing new life into our properties, most of which are over 100 years old, as well as creating new units in previously unused spaces. Read more about our projects here.
We employ around 100 people in Copenhagen directly and indirectly employ several hundred contractors who work across our portfolio.
We renovate units only when tenants leave or ask us to carry out changes. Certain renovations outside units are carried out without any impact on rents, including cleaning or renovating a façade, improving stair-ways or courtyards or making changes to basements or shared laundry-rooms.
As part of the ongoing strengthening of 360 North’s management and organization, Kenneth Ohlendorff has been appointed COO and member of the Executive Board, with effect from October 1st 2019.
Kenneth Ohlendorff, 54, joins 360 North from a position as CEO of Jeudan Projekt & Service A/S and has previously served in Nordic and European Vice President positions and as a Country Manager at Regus, the world’s largest provider of flexible workspaces. In addition, he has founded and managed serviced office provider FirstClients, which was acquired by Regus, as well as Greater Copenhagen-focused real estate investment company Navijo Holding. He served as a member of the Committee on Construction Politics under the Confederation of Danish Industry.
At 360 North, Kenneth Ohlendorff will draw on his strong track record building client-focused service companies with excellent client loyalty and ratings as well as his real estate market insight and leadership background.
Lars Pærregaard, CEO, 360 North:
“Kenneth brings a wealth of invaluable operational experience to our management team and organization, enabling us to pursue our ambition of building an even stronger and more service-oriented business. This appointment is another testament to our long-term commitment to our tenants and the Copenhagen housing market, and we look forward to continuing our work in the years ahead.”
360 North has strengthened its management team with the appointment of Ole Markussen as CFO and member of the Executive Board of 360 North, with effect from 1 September 2019.
Ole Markussen (52) is highly experienced and brings considerable real estate market insight to the role as well as a strong leadership background. He has previously served as CFO of Denmark’s largest property management company, DEAS, global security group G4S’ Danish business, and pharmaceutical wholesaler, Nomeco.
Markussen began his career at audit and advisory firm PwC, and he is a state authorized accountant with an MSC. in Business and Auditing from Aalborg University.
Markussen joins 360 North as the company continues to focus on investments into its property portfolio, which includes renovating homes, addressing maintenance backlogs and improving sustainability, while bringing additional units to market to help address the housing shortage in Copenhagen. 360 North is committed to owning its properties for decades.
Lars Pærregaard, CEO, 360 North:
“I am delighted to welcome Ole Markussen to 360 North, as we continue to build on the operational excellence of the company. Together with my team, we are committed to owning our assets for decades and delivering the highest quality service for residents, while investing in the community and creating jobs in Copenhagen for many years to come.”