German property investor Patrizia has sold a portfolio of 283 residential units in Copenhagen to Lægernes Pension, the Danish pension fund for doctors.
Financial details were not disclosed.
The portfolio totals 22,700 m2 across nine properties and is located in, and to the north of, the Danish capital.
The portfolio was originally acquired by Patrizia through three individual transactions. Since then, the company has capitalised on the strong housing market through a privatisation strategy which it says has 'delivered sustainable returns to the investors'.
Jörg Laue, head of transactions for the Nordics at Patrizia, commented: 'This disposal is in line with the business plan for this portfolio, which has seen us deliver strong returns for our investors by leveraging our asset management expertise and capturing significant value through the privatisation of residential units. Thanks to the increase in the proportion of home owners, the residents of this districts feel much more attached to their neighbourhood.'
Patrizia was advised on the transaction by Nordicals Copenhagen, Plesner and EY.
