PATRIZIA makes key residential acquisition in Copenhagen
Acquisition grows PATRIZIA’s pan-European residential assets under management to over EUR 9.8bn
- 12,600 sq m, newly built block with 127 residential and 6 commercial, fully let units
- Located in one of Copenhagen’s most sought-after residential districts
Augsburg/Copenhagen, 7 November 2019. PATRIZIA AG, the global partner for pan-European real estate investment, announces that it has acquired a fully let, 127-unit residential asset in the Valby district of Copenhagen, Denmark, from Europa Capital and Keystone Investment Management A/S.
The circa 12,600 sq m, newly built asset comprises a mix of one to four-bedroom apartments and townhouses with an average unit size of 95 sq m, including circa 500 sq m of commercial space divided on 6 units.
Situated in the newly development ‘Valby Maskinfabrik’, one of Copenhagen’s popular residential areas, the building is in close proximity to Copenhagen’s Central Business District with easy access to the public transport and road networks.
This acquisition increases PATRIZIA’s total AUM in Denmark to EUR 1.5bn.
Nicolai Sehestedt Dalsgaard, Transaction Manager at PATRIZIA Denmark, commented “Denmark, hereunder Copenhagen, remains an attractive opportunity for institutional investments in the residential real estate sector. This is our second acquisition from Europa Capital and Keystone Investment Management A/S in Valby where we have acquired a high-quality and fully let asset that aligns with our investors buy and hold strategy, while generating an attractive risk adjusted return.”
PATRIZIA AG has been active as an investment manager in the real estate market across Europe for more than 35 years. PATRIZIA’s activities include the acquisition, management, repositioning and sale of residential and commercial real estate through its own licensed investment platforms. As a global partner for pan-European real estate investment, PATRIZIA operates as a respected business partner of large institutional investors and retail investors in all major European countries. PATRIZIA manages more than EUR 41 billion of real estate assets, primarily as an investment manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks and as co-investor. For further information, please visit: www.patrizia.ag.
Head of Corporate Communications
Phone: +49 (0) 821 5 09 10-6 55