LaSalle Investment Management has bought a residential property in Denmark’s capital on behalf of its open-ended pan-European real estate fund.

The global real estate investment manager said it has completed the acquisition of the new-build residential asset in Frederiksberg in Copenhagen, on behalf of its open-ended pan-European LaSalle E-REGI fund.

The building comprises over 3,800sqm with 24 residential apartments.

Financial details were undisclosed.

LaSalle said the deal is LaSalle E-REGI‘s first investment in a residential property in Copenhagen, and also shows the fund‘s “appetite for best-in-class residential assets” in Europe’s key cities. The deal follows LaSalle E-REGI’s acquisition of the Lacus Quartier in Berlin last year.

Uwe Rempis, managing director and fund manager of LaSalle E-REGI, said: “This acquisition marks a key milestone in the Fund’s strategy to further diversify its country and asset allocation by adding its first Danish residential property.

“The asset’s location, combined with its strong sustainability credentials and the robust demand for residential space in central Copenhagen, is projected to drive strong long-term rental income.”

Jérôme Hamelin, the head of transactions in western continental Europe at LaSalle, said: “The asset is characterised by its strong fundamentals in a central urban location with excellent connectivity and amenities.

“In addition to being a high quality, resilient asset in a highly sought-after residential area, it also supports the fund’s ESG strategy with its state-of-the-art energy efficiency characteristics.”

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