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MGPA Buys €220M Danish Property

Private equity fund manager MGPA has bought a €220 million department store in central Copenhagen.

Private equity fund manager MGPA has bought a €220 million department store in central Copenhagen, Property Week reports. MGPA Europe Fund III has bought the property in a joint venture with Partners Group and a Canadian institutional investor.

The seller is Magillum Properties, a part of the Solstra Group. The space is leased to historic department store operator Illum for a lease period of 15 years. The MGPA fund will retain the majority stake and controlling interest of the property.

Click here for the story from Property Week.

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