, advised by Catella
, has sold a 390-unit premium student housing project in Copenhagen to Nuveen Real Estate
. The deal marks Nuveen debut in Danish market. Bach Gruppen is one of Denmark's largest privately owned real estate companies with a vertically integrated investment and operating platform that focuses on real estate development, construction work and production of building materials. Over the past 12 years, Bach Gruppen has developed a new DGNB gold pre-certified masterplan, Bryggens Bastion - one of Copenhagen's largest and most exciting urban development projects with 125,000 m² of residential and office properties.
Morten Gustafson, Director of Catella Corporate Finance, commented: “Bach Gruppen has developed a very innovative project focusing on the needs of end-users and the modern urban life. The fact that the transaction attracts one of the world's largest investment managers is a testimony of Bach Gruppen's capabilities as one of Copenhagen’s most visionary developers. The transaction also underlines the continued confidence from international investors in the Copenhagen real estate market as a safe-haven in these times of uncertainty and COVID-19. We, therefore, believe there will still be great international demand and liquidity in the market for similar assets”.