LaSalle buys residential portfolio in Copenhagen

LaSalle buys residential portfolio in Copenhagen

LaSalle has purchased a portfolio of three residential buildings across Copenhagen, Denmark from P+, the Danish pension fund.

The assets were acquired on behalf of LaSalle’s European open-ended fund Encore+. The purchase price was not disclosed.

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 square metres 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, the company 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 complimenting the diverse return profile of the Fund,” said David Ironside, Fund Manager for Encore+.

“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,” said Alexandre Arhuis-Grumbach, Fund Transactions Manager at LaSalle.