Patrizia has sold a repositioned mixed-use asset in Copenhagen it acquired in 2015.
The €42bn real estate manager said it has sold the 24,500sqm Galleri K building to an unnamed buyer for an undisclosed sum.
Galleri K, which is currently let to a diverse range of brands, comprises 10,000sqm of retail and leisure, 9,500sqm of office space and 5,000sqm of storage and parking.
In September 2015, Patrizia invested €200m to buy Galleri K in the centre of the Danish capital as a co-investment with a German scheme.
Patrizia said since acquiring the property, it has driven the performance of the asset by actively rotating and re-letting the premises to a diverse range of new occupiers in order to “optimise the property profile”.
Jörg Laue, head of transaction Nordics at Patrizia, said: “Through active asset management at Galleri K, we have repositioned Galleri K and, in line with our business plan, delivered strong returns for our investors.
“We continue to see opportunity in Copenhagen due to the city’s strong economic fundamentals and ongoing urbanisation trend.”
