Jeudan, Denmark’s largest listed real estate company, has bought a four mixed-use office and residential properties in Copenhagen from a Patrizia fund.
Patrizia, on behalf of the Nordics Cities Fund, sold the 9,700sqm portfolio for €50m and said the buildings including 2,650sq m of residential space for rent.
The properties are Amaliegade 15, Amaliegade 16A, Amaliegade 45/Esplanaden 46 and Gothersgade103.
Patrizia bought the properties, which date back to the 1700s and 1800s, in 2014 as part of a wider portfolio and fund mandate, following which it undertook an active asset management programme to increase the occupancy and stabilise the rental income.
Louise Hertz, country manager Patrizia Denmark, said: “This sale is in line with the fund’s strategy and has been executed within the planned timeframe.
“The positive outlook for the city is supported by its strong economic performance and the ongoing trend of urbanisation due to forecasted population growth.