Global investment firm KKR has announced the acquisition of 494 high-quality, Purpose-Built Student Accommodation (PBSA) units in Greater Copenhagen from TPG Angelo Gordon for an undisclosed amount.
The PBSA assets, completed in three phases from 2020 to 2023, comprises 494 units across the three assets. The assets are located in an established residential area in close proximity and with excellent transportation links to Copenhagen’s city centre. All properties have EPC rating A and are in the process of being DGNB certified.
KKR is making the investment through its European Core+ Real Estate strategy, which focuses on thematic investments in high quality, substantially stabilised assets with long-term growth potential. Keystone, a Danish residential specialist, will act as the local operating partner. KKR and Keystone will continue to cooperate with the Danish student accommodation operator, The Mark, for property management of the assets.
Alexander Thams, director and head of Nordics Real Estate for KKR, said: 'The PBSA assets in Copenhagen are significantly high-quality and well-amenitised to uniquely serve the strong student population in the city. We look forward to continuing to build a sizeable housing portfolio in the coming years, capitalising on Copenhagen’s favourable supply and demand dynamics.'
KKR’s recent Nordic Real Estate investments include the acquisition of a high-quality rental residential portfolio in both Finland and Denmark, as well as the acquisition of a prime last-mile logistics property in Sweden. Vertically, KKR’s European PBSA portfolio further includes assets across the UK.
