Europa Capital has completed the sale of 97 newly built PRS apartments in the Copenhagen suburb of Valby on behalf of its pan-European value add fund, Europa Fund V, to Aberdeen Standard Investments. The financial terms of the transaction were not disclosed. The fully leased apartment block was completed in the beginning of 2019 and benefits from excellent transport links. The Valby Maskinfabrik has undergone significant redevelopment in recent years, converting a former industrial site into a well-established residential area.
Hugo Black, Partner at Europa Capital, commented: “Since we acquired our first asset in Valby in 2015, we have witnessed the area’s transformation first-hand and how its development has helped alleviate the housing pressures from Copenhagen’s rapidly growing population. The sale of this apartment block is the latest in a string of deals in Copenhagen that have allowed us to take advantage of an attractive and maturing market in the city and crystallise the value we have created on behalf of our investors.”