Matter Real Estate, a European property investment firm spun out of ESO Capital, has launched a platform for a single family residential rental strategy, with the aim to build a DKK2bn-plus (€300m) portfolio in Denmark.
The Velkomn project, Matter’s seventh residential platform investment, means the London-based firm now covers the UK, Ireland, Sweden and Denmark. Across its investee businesses, Matter is targeting 20,000 homes within five years.
Velkomn will be majority-owned by Matter, led by Velkomn CEO Peter Uldall Borch, while Anders Horsbøl and Søren Hampen Kristensen who run 1927, one of Denmark’s housing developers, will be partners in the joint venture.
Velkomn will target build-to-rent schemes in regional locations around Denmark’s growth cities, with strong demographics, transport, education and employment.
The platform has been seeded with two sites in the Zealand region which are expected to deliver around 280 homes.
David Christie, Matter Real Estate CEO, said: ”Denmark has been a target investment market for us for close to five years and we are pleased not only to have found such capable partners with whom to deliver this strategy, but also to begin building the business at a point when demand far outstrips supply. Velkomn will meet a keenly felt societal need for new homes in the Danish regions, and will do so whilst delivering some of the highest standards of sustainability.”
Peter Uldall Borch, CEO, Velkomn, said: “This is a partnership with great potential. We’ve secured both capital, competences, and a strong, knowledgeable organisation. We will put our knowledge, insights, and capital to good use throughout the value chain, right from development and construction to administration and ongoing operations – all to the benefit of our tenants at Velkomn. We are experiencing a growing demand for modern, affordable rental housing, and we are looking forward to delivering just that.”
To read the latest edition of the latest IPE Real Assets magazine click here.
