Swiss Life Asset Managers has acquired a serviced apartment real estate project in Denmark’s capital for its ESG European Thematic Income & Growth fund.
The manager has invested an undisclosed amount to acquire the property, which is currently under development in Amager, Copenhagen, and will be operated by Movinn.
AG Gruppen will continue their involvement in the project as the turnkey contractor.
Guillaume Lau, portfolio manager at Swiss Life Asset Managers UK, said: “This acquisition provides compelling exposure to Copenhagen’s living segment, which benefits from attractive fundamentals.
“The property’s scale offers operational efficiencies in a fragmented serviced apartment market, and we’re excited to support Movinn’s continued growth.”
Since the ESG European Thematic Income & Growth fund’s launch in 2019, the fund has grown to a gross asset value exceeding €600m and now comprises 14 properties across eight countries.
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