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.