German property investor Patrizia Immobilien has acquired a newly built residential block of 97 units located in the Copenhagen district of Valby from Europa Capital and Keystone Investment Management.
The property is the final asset that has been sold from Europa Capital’s Fund IV Valby portfolio, bought in September 2015 from DFE and comprising 367 units.
Earlier this year, Europa and Keystone sold the fourth unit of the portfolio.
Hugo Black, partner at Europa Capital, commented: ‘We are pleased to have contributed towards the evolution of Valby from a predominately industrial area into an aspirational residential community.’
Two buildings comprising 101 units were jointly sold in June 2017. The third building sale was completed in February 2018.
In September 2016, Europa Capital and Keystone also committed to the purchase of 318 units within the same development, together with the acquisition of a 25,000 m2 portfolio of income-producing office stock. The office assets are also located within the Copenhagen suburb of Valby.