Greykite’s European real estate fund has partnered with Brunswick Real Estate to make the first investment for a newly created single-family rental housing platform in Denmark.
Greykite European Real Estate Fund I said it has created the Danske Homes platform comprising approximately 300 units at two sites in Aarhus acquired from Trim Udvikling ApS.
The new joint venture represents Greykite’s sixth strategy for the fund, which also includes investments in data centres, logistics, multi-let industrial, student housing and a second single-family rental platform.
Last month, Greykite launched Uniqhomes, its UK-focused single-family rental platform. Uniqhomes has already completed four transactions with UK homebuilders, creating a portfolio of over 1,000 homes nationwide.
Michael Abel, founder and CEO of Greykite, said: “Danske Homes marks an important milestone in Greykite’s growth across continental Europe, being the fund’s sixth investment platform, and is a strategy that aligns with our focus on building durable platforms in places where there is real, unmet demand.
“We see strong, long-term potential in the Danish housing market, and Aarhus stands out as a city where the fundamentals – demographics, employment and infrastructure – support a high-quality, purpose-built rental community.”
Dan Valenzano, senior partner of Greykite, said: “Building on our significant single-family experience and presence in the UK, we are excited to announce this partnership with Brunswick who bring a wealth of residential expertise across the Nordic region.
“This joint venture allows us to leverage local market dynamics while meeting the growing demand for high-quality housing in a region with strong fundamentals.”
David Hävermark, partner and CIO, and Kristina Alderin, partner and strategy lead at Brunswick Real Estate, said: “We are pleased to collaborate with Greykite and to leverage their strong track record in single-family rentals through the establishment of this joint venture in Denmark.
“Our partnership lays a solid foundation for long-term value creation, and it also reflects Brunswick’s firm belief in the Danish real estate market, which benefits from strong fundamentals. We are proud to have reached this important milestone and look forward to continued growth ahead.”
To read the latest IPE Real Assets magazine click here.
