ActivumSG Capital Management has agreed to acquire CASA, one of the largest residential developers and construction contractors in Denmark’s build-to-rent sector, on behalf of its latest fund. It will be the third corporate acquisition by ActivumSG Real Estate Fund VI after VanWonen and Odyssey Hotel Group, folding a new territory into its pan-European residential strategies, which already span the Dutch, Portuguese and Spanish markets. Fund VI will acquire CASA from a fund overseen by CataCap Management. The parties agreed not to disclose details of the transaction, which is scheduled to close in the coming weeks.
Saul Goldstein, Founder and CEO of ActivumSG, said: “CASA is a fresh example of our unconventional approach to accessing strong real estate investment themes through corporate acquisitions and other indirect routes. In this case our fund will gain exposure to the strong fundamentals of the Danish housing market and the dynamic build-to-rent sector, while avoiding the herd in competing for standing property assets. Corporate acquisitions have proven to be a great way to generate attractive returns for our investors, as highlighted by the successful exit of Instone in 2018.”
Torben Modvig, CEO of CASA, said: “We have a large, secured order book of construction contracts and a very healthy development pipeline, which give us good visibility for the future. Having ActivumSG’s Fund VI as a new investment partner will be a game-changer as we look to ramp up our development pipeline and scale up our platform. It opens a very exciting new chapter of growth for us all at CASA.”