Swiss Life acquires high-quality residential portfolio in Denmark

Swiss Life Asset Managers has paid €70 million ($81 million) for a portfolio of four high-quality residential assets in the Copenhagen metro area.

The four fully leased properties have a total residential area of 10,486 square meters (112,870 square feet), and are spread across Copenhagen, Fredriksberg and Hellerup. The properties consist of 107 units, one 262-square-meter (2,820-square-foot) commercial office unit, 165 square meters (1,776 square feet) of collective tenant facilities and 35 underground parking spaces.

The seller was Catella Residential Investment Management, which purchased the properties roughly 10 years ago as the company made its foray into Denmark.

“Denmark is a stable, transparent and liquid real estate market,” said Viktoria Hoffmann, fund manager at Swiss Life European Living. “The portfolio is therefore the ideal basis for further transactions in and around Copenhagen as well as in other cities in Denmark.”