Resolution Real Estate Properties has formed a €250m joint venture to invest in Copenhagen’s central business district.
The company, whichformed the joint venture with Saxo Properties, the property investment arm of Copenhagen-based Saxo Bank, will target residential, mixed use, residential and commercial buildings which would benefit from “intensive asset management”, including refurbishment and the repositioning of tenants.
The partnership said the new venture will have a life of three to five years “with the emphasis on income growth and capital gains.”
Robert Laurence, chief executive of Resolution Property said: “The stability of the underlying economy in Copenhagen, coupled with the opportunity to acquire good quality assets at levels representing a significant discount to their peak values, is of great appeal to us.”
de Morgan & Company of London, acted on behalf of Saxo Properties in the negotiations and Resolution Property was represented by Whitmarsh Holt Young along with local advisers’ including Plesner and Sadolin & Albæk.”