Global real estate manager LaSalle Investment Management has acquired a prime new-build residential asset in Frederiksberg, Copenhagen, on behalf of its open-ended pan-European LaSalle E-Regi fund.
The deal represents LaSalle E-Regi's first investment in a residential property in Copenhagen, exemplifying the Fund‘s appetite for best-in-class residential assets in Europe’s key cities.
It follows the recent acquisition of ‘Lacus Quartier’ in Berlin, which provided a strategic foundation for further growth in the residential sector for the fund.
Uwe Rempis, managing director and fund manager of LaSalle E-Regi, commented: 'This acquisition marks a key milestone in the Fund’s strategy to further diversify its country and asset allocation by adding its first Danish residential property.
'The asset’s location, combined with its strong sustainability credentials and the robust demand for residential space in central Copenhagen, is projected to drive strong long-term rental income.'
Copenhagen, underpinned by its strong fundamentals and buoyant growth forecast for disposable income, was ranked as the eighth strongest city in LaSalle’s 2021 European Cities Growth Index and is earmarked as a key market for LaSalle.
The property is located on HC Ørsteds Vej in a vibrant residential area of Frederiksberg, in central Copenhagen.
Built in 2019, the asset currently operates with very low carbon emissions and its energy efficiency is supported by rooftop solar panelling.
The building comprises over 3,800 m2 with 24 residential apartments which range from one to six rooms and a ground-floor commercial unit which is currently let to Danish grocery store chain Netto. The property also holds 40 parking spaces.
Jérôme Hamelin, head of transactions Western Continental Europe at LaSalle, added: 'The asset is characterised by its strong fundamentals in a central urban location with excellent connectivity and amenities.
'In addition to being a high quality, resilient asset in a highly sought-after residential area, it also supports the fund’s ESG strategy with its state-of-the-art energy efficiency characteristics.'
LaSalle was advised on the transaction by Keystone Investment Management, who will assist in managing the asset, Accura (Legal), X-Project (Technical) and KPMG (Tax). EDC advised the vendor on the sell-side.
