PATRIZIA sells a 283-unit residential portfolio in Denmark
Strategic sale delivers attractive returns for investors
- Attractive residential portfolio with prime locations in Copenhagen and North of Copenhagen
- Approximately 22,700 sqm across nine properties
Augsburg/Copenhagen, 19 December 2019. PATRIZIA AG, the global partner for pan-European real estate investment, announces the sale of a residential portfolio totalling 283 units in Copenhagen and North of Copenhagen, Denmark, to “Lægernes Pension”, the Danish pension fund for doctors.
The portfolio was originally acquired by PATRIZIA through three individual transactions. PATRIZIA has since the acquisition sought to capitalise on the strong housing market through a well-managed privatisation strategy and as a result delivered sustainable returns to the investors.
Jörg Laue, Head of Transaction Nordics at PATRIZIA, commented: “This disposal is in line with the business plan for this portfolio, which has seen us deliver strong returns for our investors by leveraging our asset management expertise and capturing significant value through the privatisation of residential units. Thanks to the increase in the proportion of home owners, the residents of this districts feel much more attached to their neighbourhood. In that sense, PATRIZIA is able to play a positive role in the evolution of this neighbourhood. In addition, we continue to see opportunities in Denmark and remain active investors in this market across a range of asset classes including residential.”
PATRIZIA was advised by Nordicals Copenhagen, Plesner and EY.
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 42 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
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