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Nordic Update

Generali: “We are looking to buy more in the Nordics”

Publicerad: 5 oktober 2018, 08:14

Generali Real Estate acquired Købmagergade 39 i Copenhagen. Photo: Generali RE.

Generali Real Estate, a subsidiary of the Generali insurance company, has made its first Nordic acquisition as its fund Generali Europe Investment Holding bought a high street retail property in Copenhagen. According to the company, there is more to come.

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As already reported by Fastighetsnytt, Italian fund manager Generali Real Estate, the real estate asset manager of insurance company Generali, has made its first Nordic acquisition, a high street retail property in Copenhagen bought on behalf of the Generali Europe Investment Holding fund.

In a statement announcing the transaction, the company indicates that it is scouting the Nordic market in search of further deals.

Giuseppe Cerami, investment manager, tells Fastighetsnytt that Generali Real Estate started searching for investment opportunities in the Nordic region at the end of 2017.

“We wanted to enlarge our Pan-European footprint, and believed there was an opportunity to go to the Nordics, as they are mature markets matching the criteria of institutional investors. We will keep looking to acquire property in the region, mostly in the capital cities”, he says.

Even if prices in the Region are seen to be fairly high, the investment manager said that the company is a long-term investor targeting resillient properties able to perform in the long run and having a rental growth potential.

Generali Real Estate has roughly 29 billion EUR in AUM.

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