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Acquisition of a High Street Retail Portfolio and Management of the PATRIZIA Nordic Cities Fund I

Type of Transaction: Funds and Separate Accounts
Strategy: Value Add
Geographic Focus: The assets are exclusively located in all of the top locations in the Danish capital of Copenhagen, mainly in the Stroget pedestrian area.
Transaction Volume: Transaction volume of roughly €180m
Management Approach:

  • These very well-situated properties were purchased from a private individual in an off-market deal
  • Repositioning the properties by means of active asset management
  • Converting office space into residential property. Required permits obtained thanks to familiarity with local market
  • Modernising the properties and updating usage concepts
  • Reducing vacancies and bringing rents up to market levels
  • Turning this core+/value-add portfolio into a core portfolio to ensure long-term stable cash flow

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