German investment giant in huge Copenhagen property investment

Asset manager focusing on commercial locations in the capital

In a move that suggests continued foreign interest in the Danish commercial property market, the German asset-management company Patrizia has invested in prestigious property in Copenhagen to the tune of 2 billion kroner, Børsen reports.

The properties are centrally-located – six on Strøget, three on Amaliegade and one on Gothersgade – and comprise mainly retail premises and office space.

Rikke Lykke, the head of Patrizia, told the paper the acquisitions reflected the company’s investment focus. “With the latest transactions we’re emphasising we have great interest in retail properties and offices,” she said.

Billions under management
Patrizia has only been active on the Nordic property market for a couple of years, but already has 7.5 billion kroner invested in property in the region – 4.6 billion kroner’s worth of which is located in Denmark.

Lykke indicated this figure could rise dramatically.

“Patrizia could very well end up with 20 billion kroner under management,” she said. “It all depends on the acquisition opportunities.”