Bouwfonds IM buys 70 resi units in Copenhagen for €20m

Bouwfonds Investment Management has acquired an apartment complex in Copenhagen's Ørestad residential district for its Bouwfonds European Residential Fund (BERF).

Bouwfonds IM, the real asset investment management company of Rabo Real Estate Group, acquired the 70-unit complex from Sveafastigheter, a Nordic property fund manager, for €20 mln.

'This acquisition is in line with our strategic goal of developing a portfolio of first-class residential properties in important city centres. This apartment complex is located in a prime location in Copenhagen and it is a valuable long-term addition to our residential portfolio,' commented Xavier Jongen, director of Bouwfonds European Residential Funds.

Sveafastigheter bought the building in 2012 for its Fund III. The asset was managed by the private equity group's local asset management partner North Property Asset Management.

Leimdörfer Denmark and Bruun & Hjejle advised the vendor on the deal.