Invesco Real Estate, on behalf of a German institutional investor’s European private rented sector (PRS) mandate, has bought two residential properties in Denmark in partnership with Copenhagen-based Rubik Properties.
The manager acquired the properties in the Ballerup sub-market of Greater Copenhagen, totaling 14,901sqm and comprising 186 units, from Danish developer FB Gruppen for an undisclosed sum.
One asset was completed in June 2024 and the other in December 2024.
The latest transaction represents the third deal within the mandate from the German institutional investor over the past three months. The first involved the acquisition of 160 residential units in Madrid, while the second was a forward-funded agreement to develop 99 homes at Beaulieu Park in Chelmsford, Essex.
Invesco said it expects to make at least one additional residential deal in this quarter.
Rob Johnston, MD and head of investments for UK & Nordics at Invesco Real Estate, said: “High-quality residential assets in Denmark continue to be highly sought after, and we’re delighted to have been able to expand our exposure to one of our most favoured European PRS markets – Greater Copenhagen.
“With the right assets, the local sector in Copenhagen can offer high risk-adjusted returns in a market trading at attractive yields compared to other major European cities.”
Jacob Smergel-Krog, RUBIK Properties founder and CEO, said: “We are delighted to collaborate once again with the team at Invesco Real Estate to support their acquisition of these two residential projects in Denmark.
“Residential real estate remains a compelling asset class, offering strong risk-adjusted. Our priority continues to be on tenant-focused properties and prime locations, where we see the greatest demand.”
Hans-Bo Hyldig, FB Gruppen CEO, said: “We are pleased once again to do business with both Invesco Real Estate and Rubik properties.
“The negotiation process exploited strong synergies from our previous transactions and we are always very happy when strong and professional partners express interest in other projects in our portfolio.”
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