Aberdeen Standard Investments has bought 97 newly built private rented sector apartments in Denmark’s capital from a Europa Capital fund.
Europa Capital said its value-add Europa Fund V sold the fully leased apartments in the Copenhagen suburb of Valby for an undisclosed sum.
Hugo Black, a partner at Europa Capital, said: “Since we acquired our first asset in Valby in 2015, we have witnessed the area’s transformation first-hand and how its development has helped alleviate the housing pressures from Copenhagen’s rapidly growing population.
“The sale of this apartment block is the latest in a string of deals in Copenhagen that have allowed us to take advantage of an attractive and maturing market in the city and crystallise the value we have created on behalf of our investors.”
The €716m Europa Fund V is invested in a total of 318 units across four residential blocks in Valby and has recently completed the forward purchase of an additional block comprising 127 units with the acquisition of a final block of 94 units due to complete in August.