Europa Capital and Keystone sell office portfolio in Denmark

Europa Capital and Keystone Investment Management have sold a six-building office portfolio in Denmark on behalf of its Europa’s Pan-European value-add fund, Europa Fund V.

The buyer was Schroder Real Estate. The selling price was not disclosed.

Europa’s fifth value-add fund closed in 2016 with €716 million ($791 million) in capital, including co-investment commitments. The firm has collectively raised 11 real estate funds and committed to over 130 transactions, totalling more than €11.3 billion ($12.4 billion) across 21 European countries since 1995.

The 24,445-square-meter (TK-square-foot) office portfolio is situated in the Copenhagen suburb of Valby, Denmark. The companies acquired it in December 2016 and have since increased the occupancy from 74 percent to 85 percent. According to Morten Schultz, partner at Keystone, the companies have tenants lined up for another 10 percent of the space.

“This portfolio is a great example of our ability t