German listed real estate company Patrizia has acquired a residential complex in Copenhagen for about EUR 50 mln. This is the first deal by the company's fund management arm, Patrizia Wohninvest, in Denmark.
German listed real estate company Patrizia has acquired a residential complex in Copenhagen for about EUR 50 mln. This is the first deal by the company's fund management arm, Patrizia Wohninvest, in Denmark.
The 159-unit residential building was acquired for Patrizia's Euro City Residential Fund I.
The seller of the 14,400 m2 property, located five kilometres from the centre of Copenhagen, is a project company based in Denmark.
Euro City Residential Fund I has previously invested in Sweden and has become the first non-Scandinavian residential fund investor in Finland.
Founded in 2007, Patrizia KAG is now responsible for a total investment volume of EUR 1.3 bn. The manager's first two funds, the German Residential Funds I and the Euro City Residential Fund I, each represent an investment volume of EUR 400 mln.
