Europa Capital, acting in partnership with Copenhagen based Keystone Investment Management, has secured a pipeline of 150 residential units in the Amager area of Copenhagen, Denmark, on behalf its core diversified income strategy. The project has been acquired from Danish developer, Gefion Group, by way of a forward commitment. The purchase price was not disclosed.
The development, comprising three buildings, will be delivered in three phases between October 2020 and March 2021. Located in the Oresund region of Copenhagen, the accommodation will be in close proximity to local amenities whilst also being a short distance from the city centre and Copenhagen Airport.
Andy Watson, Partner and Fund Manager at Europa Capital, commented: “Europa Capital firmly believes in the long term resilience of the residential private rented sector, especially in Copenhagen where we have executed successful investments for our value add funds. This will be the first investment in the residential sector for our core strategy, building on Europa Capital’s extensive experience in this market. Where the demographics make sense, we will continue to target further residential opportunities in major northern European cities with liquid investment markets.”