Real estate private equity firm Niam has agreed to buy 238 terraced houses in Denmark.

The €3.6bn manager is buying the 23,000sqm residential portfolio in Tirsbæk Bakker from Omnia Invest for an undisclosed sum.

Niam said it took over the first 110 houses on 1 April, while the remaining 128 homes are under construction and will be delivered successively over the next 2 years.

Michael Berthelsen, Country Manager, said: “We are very pleased to have acquired the residential units in Tirsbæk Bakker. With a beautiful nature and proximity to Vejle, we think that they are a great addition to our portfolio of affordable housing.”