Patrizia acquires flats in Copenhagen’s Marble City

German listed asset manager Patrizia Immobilien has acquired 259 apartments in Copenhagen's Marble City residential district from pension fund PenSam and public company City & Harbour. 

Financial details were not disclosed.

The acquisition, which comprises twelve separate properties on the Marmormolen (Marble Pier) peninsula in the district of Nordhavn, was made on behalf of three Patrizia funds.

'The ongoing supply and demand imbalance in these cities’ residential real estate markets continues to underpin future development,' commented Patrizia’s managing director for the Nordics, Rikke Lykke.

'Copenhagen, as Denmark's capital as well as a thriving economic and cultural hub, is benefiting greatly from a growing population and urbanisation, making the acquisition of the Marble City residential project a very attractive investment for Patrizia’s clients.'

The acquisition is being divided into two phases. The first stage comprises 128 two-, three- and four-bedroom apartments with four commercial units across six properties, while the second phase comprises 131 apartments across six properties. Each of the modern apartments has a balcony or terrace.


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The deal follows other recent residential purchases by Patrizia in Denmark, including a 177-apartment development project, in Copenhagen’s Sydhavnen area, acquired in October.

In July, a 16-property development project was purchased, while last March and April saw deals inked for a 142-apartment development project, also in Copenhagen’s Sydhavnen district, plus a portfolio of six properties – five in Copenhagen, including one development, and one in Aarhus.

'An investment like this for three different investors demonstrates Patrizia’s ability to tailor investment solutions for our institutional clients,' concluded Lykke.


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