Europa Capital has extended its Danish residential investment joint venture with local partner Keystone, into Denmark’s second city, Aarhus. The most recent investment, on behalf of Europa Fund V, is a forward-purchase from Aarhus based developer, Konstruct. The building comprises 234 residential units totalling c.17,421m² and 193m² of amenity space. The transaction is Europa Capital’s fourth acquisition in Denmark, which to date comprises 675 residential units and 24,989m² of offices in Copenhagen.
Hugo Black of Europa Capital said: "We are pleased to have completed the SVEA acquisition. Aarhus is known for its strong academic institutions, primarily Aarhus University, and the city is forecast to grow by approximately 20% by 2045, twice the national average. The unit mix has been designed to cater for students and young families in units of 75m² which makes the accommodation relatively affordable. The property is located on Aarhus’s new tram line between the city centre and the New University hospital which will, on completion, employ 10,000 people.”
The purchase price has not been disclosed.