DWS has completed the acquisition of a residential development in Copenhagen from a local Danish development company. The off-market transaction has been completed on behalf of Europe II, the DWS managed open ended institutional core real estate fund.
The residential complex comprises 361 modern, small and medium sized apartments aimed at families and young professionals, and is located in the developing residential area of Bronshoj – Husum in the North-West of the capital.
The acquisition fits the fund’s strategy targeting residential, logistics and CBD next generation office in key European cities. Since launching in 2017 the portfoio has reached a gross asset value of €1.4 bn.
This latest investment also increases the fund’s exposure to the Nordic region, adding to the Swedish prime logistic asset purchased in 2021.
Nicoletta De Bona Bottegal, lead portfolio manager for Europe II, said: 'As an affordable residential scheme, the Danish acquisition provides an opportunity to benefit from rapid growth of the Greater Copenhagen area and aligns well with the fund’s strategic focus to invest in core and core plus assets.'
'The fund’s significant exposure to residential as well as the logistics sector is a distinguishing feature and have added to the resilient profile of the fund.
DWS has been offering an annual cash distribution yield of around 4%, which is one and a half times the INREV ODCE Index in the same period.
