With a mandate from one of Germany’s largest pension funds, PATRIZIA Denmark obtained the exclusive opportunity to invest in the entire iconic retail block “Galleri K” in September 2015. The block was historically owned by two different investors. Prior to the disclosure of the sale of the retail part on the market, PATRIZIA exclusively obtained the unique off-market opportunity to acquire the upper office part of the block. In this way PATRIZIA managed to allot the previous divided ownership of the block to one single investor creating a unique and attractive business case with value add potential created mainly through active and qualified asset management.
PATRIZIA Denmark has renovated large parts of the block in close cooperation with existing tenants and attracted new interesting brands to the building. Today the block accommodates among other F&B brands like the attractive restaurants “The Market” and “El Nacional” as well as exclusive retail brands like the first Nordic flagship store of the iconic bicycle sportswear and lifestyle brand “Rapha”.
- Retail area 9,300 square metres
- Office area 9,900 square metres
- Centrally located in the pedestrian street “Strøget” in the city centre of Copenhagen
- Strategy: Core, with potential for value creation. Long-term hold.