Danish private pension fund PFA Ejendomme has bought a residential portfolio in Copenhagen from UK-based Resolution Property for DKK 1.45 bn (€195 mln).
The portfolio comprises 16 assets containing 500 apartments in Fredriksberg and Gentofe, with a total area of 68,000 m2.
The initial yield is 3.22%, but PFA believes the assets have the potential to achieve a yield of around 5% through modernisation.
'It is part of our strategy to invest more in city locations,' said Michael Bruhn, CEO of PFA Ejendomme.
