Europa Capital, the pan-European real estate investment manager, in partnership with Keystone Investment Management (“Keystone”), the asset management company focused on Danish property, announces that it has completed the sale of a six building office portfolio in the Copenhagen suburb of Valby on behalf of its pan-European value add fund, Europa Fund V, to Schroder Real Estate. The financial terms of the transaction are confidential.
The portfolio, which comprises 24,445 sq m of multi-let office space, was acquired in December 2016. Since then Europa Capital and Keystone have increased the occupancy from 74% to 85% and net operating income has grown by almost 40%.
The suburb of Valby has undergone substantial redevelopment and modernisation in recent years, with both office and residential demand boosted by the benefit of excellent transport links into Copenhagen city centre.
Europa Capital has made significant investment into Denmark and the Copenhagen area in recent years across multiple asset classes. Since 2015, Europa Capital has forward funded the delivery of over 921 units in Aarhus and Valby, of which the majority has since been sold.
Source : Europa Capital