Nordic real estate investment manager Genesta has acquired Mylo Living, a Danish micro-living platform, from European private equity real estate firm DFI for an undisclosed sum.
Established by DFI alongside local joint venture partner SF Management in 2022, the platform comprises an operating brand and a fully let 350-unit asset in Copenhagen completed in mid-2024.
The asset, which has been managed alongside SFM, is currently fully occupied.
The transaction represents DFI’s latest exit from the Danish residential sector, following the 2022 sale of its debut platform, Blækhus, to Patrizia for €314m.
Established in 2018 alongside SF on behalf of DFI Value-Add Fund I, Blækhus grew into Denmark’s largest purpose-built student accommodation portfolio, comprising 1,186 units across seven assets in Copenhagen and Aarhus.
Beside its micro-living investments, DFI remains active in Danish residential through Komvi, a €500m single-family rental joint venture with Evervest and anchor investor Grosvenor Diversified Property Investments.
Paul Nearchou, partner at DFI, said: “This exit crystallises our investment in Mylo Living, a platform we conceived, and represents our latest successful exit in Danish living, following the sale of Blækhus in 2022.
“DFI has now been active in Danish living for nearly a decade, during which time we have developed a deep understanding of the market and its key drivers. It remains one of our highest conviction markets for living platforms.”
Jacob Bruun Borring, partner at SFM, said: “Mylo Living was developed as a state-of-the-art micro-living concept, and it has proved highly attractive to young professionals, delivering above-market operational performance and a thriving resident community.
“We are pleased to hand it over to a long-term owner and thank Genesta for a constructive process. We remain committed to the micro-living and PBSA market, where we continue to see attractive investment opportunities, as underlined by our recent 450-unit acquisition in Copenhagen.”
David C Neil, CEO at Genesta, said: “Micro living is an exciting step for Genesta, and a segment we strongly believe in. Copenhagen’s single-person households keep growing, while zoning and rising construction costs constrain new supply.
“Mylo is a newly built, stabilised property and a strong starting point in one of the city’s fastest-changing neighbourhoods. We thank DFI and SFM for a constructive process.”
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