Europa Capital and Keystone Investment Management have exchanged contracts on the corporate sale of a newly built residential block in the Copenhagen suburb of Valby to Patrizia. The purchase price was not disclosed. This is the final asset to be realised from Europa Capital’s Fund IV Valby portfolio, which was acquired in September 2015 on a commitment to purchase basis and comprised 367 units, which has sold in phases since June 2017.
Hugo Black of Europa Capital said: “We are pleased to have contributed towards the evolution of Valby from a predominately industrial area into an aspirational residential community. We will continue this effort with the real estate owned within Europa Fund V that is in the same location.”