Europa Capital and Keystone have completed on the corporate sale of 101 newly built residential units in the Copenhagen suburb of Valby to BVK.
In September 2015, Europa made a forward commitment to the purchase of 367 residential units across five buildings in Copenhagen from DFE. In March 2016, the first 101 residential units across two buildings were acquired. Having stabilised the income stream, the sale of these two buildings completed to BVK on 15 June.
Europa and Keystone has also forward committed to the purchase of a further 318 units within the same development in September 2016, together with the acquisition of a 24,989 sq. metre portfolio of income producing office stock in the same locality. The assets are also located within the Copenhagen suburb of Valby.
Hugo Black of Europa Capital said, “We are pleased to have disposed part of the Fund’s residential units in Valby, Copenhagen, to which we committed in September 2015, and acquired in March 2016. The Valby residential accommodation has helped towards alleviating the supply constraint pressures in the capital city, which have been created by a growing populous.”
For further information, please contact:
Gordon Simpson/Elizabeth King, Finsbury: + 44 20 7251 3801
Notes to Editors:
About Europa Capital
Europa Capital is an established real estate fund management group operating across Europe adding value through risk-based acquisition strategies and active asset management on behalf of its investors.
Since 1995, Europa Capital has collectively raised 9 real estate funds and committed to over 105 transactions totalling more than €9.5 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 wholly owned US subsidiary of Mitsubishi Estate. 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/