In a significant move addressing Copenhagen's growing housing demands, Catella is expanding its development footprint in the Danish capital through a partnership with diversified real estate investment manager Barings. The joint venture will deliver 269 affordable apartments in a project named Vega, bringing much-needed accommodation to a rapidly expanding Copenhagen suburb.
The development, made possible through Catella's Principal Investments business area, showcases the company's financial resilience and ability to pursue strategic opportunities despite challenging market conditions. "We are excited to join forces with the world-leading diversified real estate investment manager, Barings, on its first real estate investment in Denmark. It will significantly enhance the project's prospects. It also demonstrates how we, through Principal Investments, can generate value-add business opportunities across our entire platform," said Morten Gustafson, Managing Director, Catella Investment Management Denmark.
Vega's design prioritises sustainability, incorporating low-emission materials, energy-efficient solutions, and sustainable mobility options, including electric vehicle infrastructure and cycling amenities. The development specifically targets Greater Copenhagen's housing shortage by creating affordable apartments with multi-generational living spaces, combining environmental consciousness with significant social impact.
"Entering the Danish market through a partnership with Catella, a highly regarded specialist with deep-rooted experience in Copenhagen's residential sector, aligns well with our strategy of working alongside local experts to deliver high-quality, sustainable living spaces across Europe. We look forward to breaking ground on the scheme and bringing much-needed homes to this dynamic and growing city," said Andreas Norberg, Managing Director and Head of Nordics at Barings Real Estate.
Located adjacent to Catella's GreenPoint project—a 445-unit complex in Herlev, Copenhagen, due for completion in October 2025—Vega follows in the footsteps of its predecessor's impressive sustainability credentials. GreenPoint achieved double platinum certification, including Copenhagen's first DGNB Platinum certification for a Built-to-Rent project and Denmark's first WiredScore Home Platinum certificate. "The Vega project is a clear example of our strategy within Principal Investments. Going forward, we aim to diversify the portfolio through the strategic use of equity, focusing on seed investments, co-investments, and partnerships, to grow assets under management, increase recurring revenue, and enhance long-term shareholder value," said Daniel Gorosch, interim CEO and President at Catella Group.
- Morten Gustafson, Managing Director, Catella Investment Management Denmark
- Andreas Norberg, Managing Director and Head of Nordics at Barings Real Estate
- Daniel Gorosch, interim CEO and President at Catella Group
- Catella - European property investment company
- Barings - Diversified real estate investment manager
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