Rockspring, on behalf of a separate account client, has acquired a student housing portfolio in Copenhagen, Denmark for €30m from a local developer in an off market transaction.
Consisting of two assets, Tegholmsgade 36 and Søndre Fasanvej 90, the portfolio totals 7,501m², provides 175 modern en suite units and is fully occupied.
The newly built Tegholmsgade 36, in Sydhavnen, was completed in 2015 and forms part of an extensive harbour-front redevelopment located immediately beside Aalborg University, which has circa 3,700 students.
The second asset, Søndre Fasanvej 90 in Valby, was extensively renovated in 2015. It is adjacent to the popular residential enclave of Frederiksberg and is 1.6 kilometers from Copenhagen Business School, which has a 20,000-strong student body.
The properties will be managed day to day on behalf of Rockspring by a local operator, SF Management, which is an experienced residential/student investment manager in Denmark.
