German investor Patrizia has acquired a fully let, 127-unit residential asset in the Valby district of Copenhagen, Denmark, from Europa Capital and Keystone Investment Management for an undisclosed amount.
The 12,600 m2, newly-built asset comprises a mix of one to four-bedroom apartments and townhouses with an average unit size of 95 m2, including 500 m2 of commercial space divided on 6 units.
Situated in the ‘Valby Maskinfabrik’ district, one of Copenhagen’s popular residential areas, the building is in close proximity to Copenhagen’s Central Business District with easy access to the public transport and road networks.
This acquisition increases Patrizia's total AUM in Denmark to €1.5 bn.
Europa Capital completed the sale on behalf of its pan-European value-add fund, Europa Fund V.
Europa Capital first invested in Scandinavia in 2007 and has since completed over €570 mln in transactions. Most recently Europa Capital acquired an office in Stockholm that it will refurbish in partnership with Nordic asset manager, NCAP.
