Attractive, long-term investment in one of Europe’s top prioritised cities for investors
- Located in Valby, an area with Copenhagen’s highest population growth forecast
- Acquired as part of long-term, core buy-to-hold strategy
- The acquiring fund now includes assets worth EUR 120m, with a EUR 600m GAV target
Augsburg/Copenhagen, 17 July 2018. PATRIZIA Immobilien AG announces that it has acquired a 97-unit residential property in the Valby district of Copenhagen, Denmark for one of its pan-European residential funds, ‘PATRIZIA Wohn-Invest Europa I’. The purchase price has not been disclosed. This acquisition increases PATRIZIA’s assets under management in Denmark to EUR 1.3 billion.
Peter Helfrich, Regional Head North West Europe at PATRIZIA, commented: “This investment represents a rare opportunity to acquire a new, high-quality, fully let residential building with attractive, long-term prospects in an established yet up-and-coming location within the strong rental housing market in Copenhagen. Our local experts in Copenhagen have once again delivered an exceptional investment for our clients.”
This acquisition is the latest core purchase made on behalf of the Wohn-Invest Europa I fund, which intends to build up an income-focused, pan-European residential portfolio under a long-term, core buy-to-hold strategy. The fund, with a target volume of EUR 600 million gross asset value (GAV), has, since opening at the beginning of 2018, already acquired assets worth EUR 120 million, including the recent closing in Valby and an earlier purchase of a residential development in Dublin, Ireland.
The Danish capital continues to be among the top prioritised cities in Europe for real estate investments boosted by good demographics, growing economies and high quality of life. The main growth drivers for the city’s housing market are population growth (20% growth forecast by 2037), the trend towards further urbanisation in Denmark and a housing shortage due to excess demand. Valby is an area of the city with one of the highest population growth forecasts.
PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG has been active as an investment manager in the real estate market across Europe for more than 30 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 almost EUR 40 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
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