European real estate investment firm Orange Capital Partners has bought a portfolio of seven residential blocks in Denmark from NREP for an undisclosed sum.
NREP said the 110,000sqm residential portfolio was held by its Nordic Strategies Fund II (NSF II).
The portfolio is comprised of 1,220 modern rental apartments located across seven residential blocks in Copenhagen and Aarhus.
The properties include the Teglgårdshusene, Green Square Garden, Nordhuset, Ørestad Have, Resource Rows, Risskov Brynet and Lisbjerg buildings.
Jakob Flymer, investment director at NREP, said: “This is a significant transaction for NREP and showcases our ability to build institutional quality portfolios of global appeal, at scale and at speed. We have been able to demonstrate the diversity of our investment strategy, in this case successfully exiting after six years, contrasting well with other incidences where we have maintained a longer-term owner and operator approach.
“Residential properties, particularly high-quality and well-located rental apartments, such as those in this portfolio, have proven their resilience and stand out as particularly attractive to investors looking to gain further exposure to the Nordics.”
Joris Voorhoeve, partner at Orange Capital Partners, said: “The underlying portfolio is at the core of our investment strategy: affordable and sustainable housing across key regions in Europe.
“Over the past twelve months we have had a strong momentum in the Nordics and are committed to staying in Denmark for the long term. NREP continues to deliver standard-setting developments across the Nordics and we are very pleased to be adding this significant transaction to our high-quality Danish residential portfolio.”
To read the latest edition of the latest IPE Real Assets magazine click here.
