Germany’s biggest pension fund BVK has bought 101 newly built residential units in Copenhagen.
Fund manager Europa Capital and property manager Keystone sold the two residential blocks in the Valby suburb, having acquired them last year from local developer DFE.
BVK has been increasing its exposure to residential markets. Last month, IPE Real Estate reported that it was investing in Japanese housing.
In Europe, BVK has hired CapMan for a Nordic housing strategy, and Patrizia for a pan-European mandate.
Europa Capital, which invests across real estate sectors in Europe, has been active in the Copenhagen residential markets in conjunction with Keystone.
In September 2015, it made a forward commitment to purchase 367 residential units across five buildings in the city, and in March 2016 the first 101 residential units were acquired.
Europa said it “stabilised the income stream” before selling the two buildings to BVK last month.
Europa and Keystone have also forward committed to the purchase of a further 318 units in the same development.
Hugo Black of Europa Capital said: “The Valby residential accommodation has helped towards alleviating the supply constraint pressures in the capital city, which have been created by a growing populous.”
