Europa Capital has extended its Danish residential investment joint venture with local partner Keystone, into Denmark’s second city, Aarhus. The most recent investment, on behalf of Europa Fund V, is a forward-purchase from Aarhus based developer, Konstruct. The building comprises 234 residential units (approximately 17,421 sq. metres) and 193 sq. metres of amenity space. The transaction is Europa Capital’s fourth acquisition in Denmark, which to date comprises 675 residential units and 24,989 sq. metres of offices in Copenhagen. Subsequent sales of 272 of these units across four residential blocks have since completed to a range of institutional buyers.
Hugo Black of Europa Capital said, “We are pleased to have completed the SVEA acquisition. Aarhus is known for its strong academic institutions, primarily Aarhus University, and the city is forecast to grow by approximately 20% by 2045, twice the national average. The unit mix has been designed to cater for students and young families in units of 75 sq. metres which makes the accommodation relatively affordable. The property is located on Aarhus’s new tram line between the city centre and the New University hospital which will, on completion, employ 10,000 people.”
The acquisition was carried out in joint venture with Keystone Investment management.
For further information, please contact:
Gordon Simpson/Elizabeth King, Finsbury: + 44 20 7251 3801
About Europa Capital:
Europa Capital is a real estate fund manager focused on European markets. For more than 20 years, Europa Capital has been delivering risk adjusted returns for a global audience of investors. We focus on investment returns driven by real estate fundamentals in both equity and debt strategies.
Since 1995, Europa Capital has collectively raised nine real estate funds and committed to over 128 transactions totalling more than €10.9 billion across 19 European countries.
The Europa Funds benefit from Europa Capital’s established network of partners across Europe who co-invest in acquisitions made by the Europa Funds. These country and joint venture partner relationships in some cases extend back more than 20 years.
Europa Capital is a member of Rockefeller Group International, Inc. (“RGI”), a subsidiary of Mitsubishi Estate Co. Ltd. RGI is a strategic investor alongside Management. Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct Authority.
Further information can be found at www.europacapital.com
About Keystone Investment Management:
Keystone was established in early 2013 by Morten Schultz and Sadolin & Albaek (an associate of JLL) as an asset management company focused on Danish property across the residential, retail and office sectors. The firm currently has €640 million of assets under management, comprising 56 properties.
Please visit http://www.keystoneim.dk/