Europa Capital and Keystone have completed on the corporate sale of a block comprising 105 newly built private rented sector (PRS) homes in the Copenhagen suburb of Valby to Heimstaden.
In September 2015, Europa Capital made a commitment to purchase 367 PRS units across five buildings in Copenhagen from DFE. Two buildings comprising 101 units were jointly sold in June 2017. The most recent sale, the third building, completed in February 2018.
In September 2016, Europa Capital and Keystone also committed to the purchase of 318 units within the same development, together with the acquisition of a 24,989 m² portfolio of income-producing office stock. The office assets are also located within the Copenhagen suburb of Valby.
Hugo Black of Europa Capital said, “We are pleased with the successes achieved on our disposal program at Valby. The continued population growth and a limited supply of affordable rental accommodation has driven high rental growth. This, in turn, has created increased demand from institutional investors”.
