Edinburgh-headquartered Aberdeen Standard Investments has purchased 97 newly built private rental sector (PRS) apartments in the Copenhagen suburb of Valby from Europa Capital's Europa Fund V.
Financial terms were not revealed.
The fully leased apartment block was completed at the beginning of 2019, according to Europa Capital, which has invested significantly in Denmark's residential market, forward funding the delivery of over 921 units in Aarhus and Valby to date.
'Since we acquired our first asset in Valby in 2015, we have witnessed the area’s transformation first-hand and how its development has helped alleviate the housing pressures from Copenhagen’s rapidly growing population,' said Hugo Black, partner at Europa Capital.
'The sale of this apartment block is the latest in a string of deals in Copenhagen that have allowed us to take advantage of an attractive and maturing market in the city and crystallise the value we have created on behalf of our investors,' Black added.
The Europa Fund V is invested in a total of 318 units across four residential blocks in Valby, and has recently completed the forward purchase of an additional block comprising 127 units, with the acquisition of a final block of 94 units due to complete in August.
Europa Capital was advised on the sale by RED.
