NREP Nordic Strategies Fund acquires residential portfolio in Denmark (DK)

NREP Nordic Strategies Fund, the pan-Nordic fund advised by real estate investment manager Nordic Real Estate Partners (NREP), has acquired a portfolio of more than 700 high-quality apartments (73,000 m²) in Denmark from PensionDanmark.
The portfolio consists of six properties in Copenhagen and two additional properties in Vejle and Århus, cities benefitting from strong demographic growth and urbanization trends. The units were constructed during the period 2006-2013 and are located in prime locations.
“We are very satisfied with the acquisition of eight properties from PensionDanmark. Copenhagen is one of the fastest growing capital cities in Europe and supply has on average for the last decade met only a quarter of the annual increase in demand. This attractive supply/demand imbalance is coupled with that absolute price levels and the housing burden are relatively low compared with many other European markets. Copenhagen and the strongest growing secondary cities are attractive investment areas and we are confident of that they will continue to benefit from the current economic and demographic growth trends”, comments Rune Kock, NREP’s Head of Transactions in Denmark.
”Within residential, NREP has primarily focused on developments, but we found that this was a unique opportunity to acquire a large portfolio of consistently well located properties that provide both stable income as well as the potential for NREP to add value through hands on asset management” continues Rune Kock.
Source: NREP 

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