Bach Gruppen, advised by Catella, has sold a 390-unit premium student housing project in Copenhagen to Nuveen Real Estate. The deal marks Nuveen debut in Danish market. Bach Gruppen is one of Denmark's largest privately owned real estate companies with a vertically integrated investment and operating platform that focuses on real estate development, construction work and production of building materials. Over the past 12 years, Bach Gruppen has developed a new DGNB gold pre-certified masterplan, Bryggens Bastion - one of Copenhagen's largest and most exciting urban development projects with 125,000 m² of residential and office properties.
Morten Gustafson, Director of Catella Corporate Finance, commented: “Bach Gruppen has developed a very innovative project focusing on the needs of end-users and the modern urban life. The fact that the transaction attracts one of the world's largest investment managers is a testimony of Bach Gruppen's capabilities as one of Copenhagen’s most visionary developers. The transaction also underlines the continued confidence from international investors in the Copenhagen real estate market as a safe-haven in these times of uncertainty and COVID-19. We, therefore, believe there will still be great international demand and liquidity in the market for similar assets”.
