Hines has acquired 121 apartments at Trikotageparken, east Copenhagen, from developer Bonava on behalf of the Hines Pan-European Core Fund (HECF). Located in Copenhagen’s Osterbro district in the east of the city, the new homes are part of Bonava’s Trikotageparken development, which has been recognized by the Nordic Swan Ecolabel scheme for high levels of sustainability. To qualify for the Ecolabel, the development must meet strict criteria covering every stage of the building’s life cycle, including materials used and long-term use. The new homes acquired by HECF will consist of one, two and three-bedroom apartments for rent, totalling 10,508m² of space across three buildings, and will be completed in Q4 2021. A further building will be sold by Bonava through a private market sale.
Trikotageparken was designed by architects Praksis Arkitekter and is named after Julius Hansens Trikotagefabrik, which occupied the site until the 1970s. The development’s future residents will benefit from easy access to local amenities ideal for families and young professionals such as the nearby forest and park, attractive schools, kindergartens and Tuborg Harbour, which serves as a local CBD and has the Waterfront shopping centre.
Peter Epping, Senior Managing Director and HECF Fund Manager at Hines, said: “Our investment in Copenhagen’s Trikotageparken reflects our ambition to increase the exposure of the HECF in the living sector within key city-centre locations across Europe. As we continue to expand our residential portfolio, we will focus on high-quality investments which combine strong real estate fundamentals and the highest sustainability and ESG criteria.”
James Robson, country head for The Nordics at Hines, said: “At Hines, we strive to be world leaders in sustainability, and Trikotageparken is an excellent example of high quality ‘green’ design. We are excited to be undertaking our first residential project in Denmark and The Nordics region, and looking forward to seeing the scheme develop into a highly sustainable new community. We are actively targeting similar projects that demonstrate innovative, forward-thinking approaches to design and sustainability.”
Kristina Olsen, Managing Director at Bonava Danmark A/S, said: “We are very happy with the cooperation with Hines, who share our focus on sustainability. Investor sales is part of our strategy, and in Hines, we have found a partner, with a long-term perspective on the market.”
