Europa Capital, working with Copenhagen based Keystone Investment Management, has completed the acquisition of 178 newly developed residential units across four buildings in the Amager area of Copenhagen from Danish developer, Gefion Group, for €88m. Having entered into a forward commitment with Gefion in May 2020, Europa Capital has taken ownership of the assets following their completion and successful lease-up. Located in the Oresund region of Copenhagen, Gefion’s waterfront development is a short distance from the city centre and Copenhagen Airport.
Andy Watson, Partner and Fund Manager at Europa Capital, commented: “We see PRS residential as a long-term, low-volatility backbone to our diversified income portfolio. We are pleased to have sourced and executed this opportunity for EDIF with Keystone, a local partner with specialist residential experience and a strong track record with Europa Capital in Copenhagen, a city which we favour for its strong fundamentals of population growth. The successful lease-up of these four buildings also demonstrates the appeal of high-quality facilities in a unique waterfront location.”
Thomas W. Færch, CEO of Gefion, commented: “We are very proud that Europa Capital’s core fund has selected four newly built residential buildings from Gefion Group to be a part of the fund's portfolio. These are residential buildings of high quality and with a unique location in Copenhagen. All apartments were handed over to Europa Capital at the agreed time according to the schedule.”