Invesco’s global real estate investment business has strengthened its exposure in the Danish residential market vai a second deal with 1927 Estate.
Invesco Real Estate has invested an undisclosed sum to buy the rights to a second new development of the residential assets located in Skovlunde, Greater Copenhagen.
The acquisition was made in cooperation with Rubik Properties, an established partner for Invesco Real Estate.
The investment, Torvevej, consists of 106 new build apartments situated on the corner of Ballerup Boulevard and Torvevej. The entire project will be delivered on a turnkey basis, with completion expected in the first quarter of 2023.
Invesco said this transaction brings to 464 the number of units Invesco Real Estate has recently invested in on behalf of its strategic opportunities investment programme in Denmark over the past few weeks.
John German, a residential investments managing director at Invesco Real Estate, said: “We are delighted to announce the purchase of another Class A asset within an attractive and accessible Greater Copenhagen location.
“This is our second transaction with 1927 Estate, and we look forward to our continued working relationship. Our objective is to partner with developers who can offer multiple projects in any given market and in 1927 Estate we have found a counterparty who is able to offer multiple opportunities in our target investment areas.”
Jacob Smergel-Krog from Rubik Properties said: “We are actively searching for affordable residential development projects in Greater Copenhagen and this project in Skovlunde is once again a strong match including when it comes to affordability, sustainability and quality.”
Soren Hampen Kristensen, CEO - 1927 Estate said: “To complete the second transaction with Invesco Real Estate and Rubik Properties within a few weeks is a true acknowledgement of our effort putting sustainability and digitalisation on the agenda.
”We look forward to continuing our cooperation with Invesco Real Estate and Rubik Properties who share our ambition regarding sustainable DGNB certified projects supported by long term investments in technology.”
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