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Patrizia invests €200m in Copenhagen property for German scheme

by Andrea Waitrovich

Patrizia Immobilien AG has acquired the business block “Galleri K” in the center of Copenhagen for the equivalent of €200 million ($222 million). The purchase was made on behalf of a German pension fund mandate.

PATRIZIA acquired the block in two separate transactions from the institutional investor Unipension and the Bank of Ireland.

The entire building consists of 20 high street shops let to international fashion retailers, offices and apartments, spanning across a six-story block.  Tenants include international brands such as H&M, Topshop, Urban Outfitters and Nespresso.

The retail spaces totals approximately 141,007 square feet and the office space accounts for approximately 107,639 square feet.

Recently, PATRIZIA Immobilien AG sold a German apartment portfolio with a price tag of more than $2 billion. The buyer was Deutsche Annington. And in a separate deal, PATRIZIA acquired a four-property portfolio for $973 m

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