Generali Real Estate has entered the Nordics property market with the acquisition of a high-street retail asset in Denmark’s capital.
The real estate manager said it bought Købmagergade 39 in central Copenhagen on behalf of the Generali Europe Investments Holding (GEIH) fund.
Generali acquired the fully-let asset from a private investor for an undisclosed sum.
Købmagergade 39 is a high street retail corner building with a small residential component. Built in 1780 and recently fully refurbished, it spreads over five above-ground floors for a total surface of 1,700sqm.
Generali said it will continue to scout the Nordics property market, in order to build a quality portfolio across the main cities of the region.
The company follows an investment strategy targeting the main European cities, with a focus on prime office and high street retail assets generating long-term stabilised cash flows.