LaSalle acquires large resi portfolio in Copenhagen

Global real estate investment manager LaSalle Investment Management (LaSalle) has acquired a portfolio of three residential buildings across Copenhagen, Denmark.

The assets were acquired for an undisclosed amount from P+, a Danish pension fund, on behalf of Encore+, LaSalle’s flagship European open-ended fund.
 
The 270 residential units that make up the portfolio are situated throughout Copenhagen, all in attractive locations with excellent amenities. Most units have balconies and shared green areas and courtyards. Combined, the buildings also have around 1,000 m2 of commercial/retail space.
 
As of the purchase date, the buildings are almost fully occupied, and the Fund anticipates strong future rental income from the assets.
 
David Ironside, fund manager for Encore+, said: 'We are pleased to announce the purchase of such a strongly performing residential portfolio in a leading European city. We believe well-located assets such as these will continue to generate a long-term income stream for our investors complementing the diverse return profile of the Fund.'
 
Alexandre Arhuis-Grumbach, fund transactions manager at LaSalle, said: 'We identified this specific strategy in Denmark to access high-quality resilient assets such as this residential portfolio in Copenhagen, with the intention of holding them for the long term, and we are interested in exploring similar acquisition of this type.'
 
LaSalle was advised by Keystone Investment Management, who will assist in managing these assets, as well as Accura, KPMG and Drees & Sommer.

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