MGPA Europe Fund III Invests in Copenhagen
MGPA has recently been involved in a number of transactions across Europe on behalf of MGPA Europe Fund III.
In Copenhagen, MGPA acquired the Illum department store for approximately €220 million. MGPA made the acquisition in a joint venture with Partners Group and a Canadian institutional investor. The seller was Magillum Properties, part of the Solstra Group, which also owns the Illum retail operation. The asset comprises two adjacent buildings totalling 40,300 square metres of space, the majority of which is let to Illum for a 15-year term.
“The asset provides excellent market opportunities for the creation of flagship stores and other retail units for both local and international retailers, capitalising on its prime location in Copenhagen,” says Laurent Luccioni, chief executive of MGPA in Europe.