German listed real estate company Patrizia has acquired a residential complex in Copenhagen for about EUR 50 mln. This is the first deal by the company's fund management arm, Patrizia Wohninvest, in Denmark.

The 159-unit residential building was acquired for Patrizia's Euro City Residential Fund I.

The seller of the 14,400 m2 property, located five kilometres from the centre of Copenhagen, is a project company based in Denmark.

Euro City Residential Fund I has previously invested in Sweden and has become the first non-Scandinavian residential fund investor in Finland.

Founded in 2007, Patrizia KAG is now responsible for a total investment volume of EUR 1.3 bn. The manager's first two funds, the German Residential Funds I and the Euro City Residential Fund I, each represent an investment volume of EUR 400 mln.