Urban Partners is selling the remaining building in its Ripple Residence landmark development in Denmark’s capital to Proteus, a sustainability-focused real estate investor based in Germany.
Urban is divesting the asset in Copenhagen from its NSF IV fund. Both parties agreed not to disclose the sales price.
However, sources in the Danish city told IPE Real Assets that a “cautious” Nordhavn price might be around DKK90,000 per sqm, which would imply a property value of at least DKK650m to DKK700m (€87m to €94m).
The residential project will aim to deliver record-low carbon emissions and best-in-market energy-efficient solutions, underscoring the commercial viability of sustainable real estate while adding quality housing stock to Nordhavn, one of Copenhagen’s most attractive and fastest-growing neighbourhoods.
Rune Højby Kock, co-head of RE, Urban Partners, said: “We launched Ripple Residence in 2022 with a clear ambition: to push the boundaries of low‑carbon building while still delivering a commercially sound, high‑quality residential product. At Urban Partners, we are problem-solvers at heart, with an ambition to find the most innovative approaches to real life issues through a commercial lens. We are proud to successfully deliver on the business plan and hand over to a like‑minded, long‑term investor.”
Thomas Riise-Jakobsen, head of Denmark, Urban Partners, said: “This transaction marks a proud milestone for Urban Partners and demonstrates the power of private capital to accelerate scalable solutions for the challenges our cities face — from sustainable housing to energy-efficient systems. As the demand for sustainable real estate continues to rise, Ripple Residence shows how ambitious, low-carbon design using timber construction, geothermal heating, solar energy and smart microgrid controls can be delivered at scale and still be commercially attractive.
“At the same time, the building delivers much-needed housing in a high-demand area of Copenhagen. We are pleased to entrust it to a mission-aligned, long-term institutional owner.”
The Ripple Residence development comprises two multi-storey buildings with a total of 115 residential units and two commercial spaces. The first building was put on the market as a residential-to-sell proposition and its apartments were purchased in record time, underscoring the project’s strong market appeal.
The second building is the property now being acquired by Proteus.
Benjamin Kurmulis, head of transactions, Proteus GmbH, said: “As a sustainability-driven, long-term investor and responsible landlord, Ripple Residence represents exactly the kind of asset we seek to own and operate for decades to come: high-quality homes with genuinely low-carbon performance.
“Our long-term perspective is centered on creating durable value through high-quality building substance, excellent operational standards, and places where people truly feel comfortable living.”
By using timber as the primary construction material and integrating advanced energy-efficient technologies, the building is expected to emit just 5kg of CO2 per sqm per year – about one-third lower than the Danish regulatory limits and fully aligned with the Paris Agreement.
Urban Partners has more than €23bn in assets under management through multiple strategies across the capital structure.
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