Listed German investment manager Patrizia Immobilien has acquired six residential blocks across Denmark as part of its pan-European 'buy to hold' strategy.
The portfolio encompasses 251 units in Copenhagen and Aarhus, including a new development at Applebys Plads in the Christianshavn area of the capital. The average size of the residences is 93 m2.
Patrizia and the vendor agreed not to disclose the purchase price.
The deal means Patrizia now has around €1 bn worth of assets under management in Denmark, and follows the recent acquisition of a 15,000 m2 development on the Teglholmen peninsula in the Copenhagen's Sydhavnen district.
Rikke Lykke, managing director Nordic region at Patrizia, said: 'We continue to find the residential market in Copenhagen a compelling investment opportunity with further growth potential.
'These trends actually also apply to other larger cities in Denmark and it is therefore an obvious strategic move for Patrizia to expand its investment focus.'
