Swedish investment firm M2 Asset Management has made its debut in Denmark, with the acquisition of residential units and parking spaces in Copenhagen from German-headquartered investor Patrizia.
Financial details were not disclosed.
The deal comprises 99 commonhold residential units with a combined GLA of 8,200 m2 spread across two adjacent properties and over nine stories, alongside 56 parking spaces.
The asset is located in the heart of Copenhagen, in Frederiksstaden, within the triangle between the Royal Palace, the Kings Garden and the Kings Square.
The listed properties were built between 1943-1956 and designed by Danish architects Kay Fisker, CF Møller and Eske Kristensen with red bricks and red-tiled roofs.
Catella Investment Management sourced the opportunity and was retained by M2 Asset Management to underwrite and prepare the business plan, structure and procure the acquisition financing and manage the closing of the transaction.
Catella Investment Management will execute the business plan and oversee the investment as local operating partner going forward.
Morten Gustafson, managing director of Catella Investment Management in Denmark, said: 'Our property investment management activities in Denmark are growing steadily.
'We are grateful for the trust that M2 Asset Management have placed in Catella with this investment, and we look forward to delivering on the business plans.'
