Saxo Properties, a subsidiary of the Copenhagen-based investment specialist, Saxo Bank, recently entered into a joint venture with the real estate investor, Resolution Property. The alliance of both companies will see the co-investment of approximately €250 million in the central business district of Copenhagen.
The focus will be on targeting residential and commercial buildings which will benefit from the application of intensive asset management, including refurbish ment and the repositioning of occupiers.
Saxo Properties’ Chief Executive, Jesper Damborg, explained, “We are delighted to have teamed up with Resolution Property, one of the leading pan European real estate investors, with assets across Continental Europe. The Joint Venture will seek to take advantage of carefully selected opportunities which have the potential to produce above average returns in the medium term.”
Throughout the process, Saxo Properties will be identifying off market opportunities, and implementing an asset management programme of improvements resulting in significantly enhanced returns for investors. Saxo Properties focuses on residential, office and retail property in Central Copenhagen, providing closed end funds for both high net worth clients and institutional investors.
This strategic alliance is expected to have a life of three to five years with the emphasis on income growth and capital gains.