Swedish private equity firm Niam and Danish construction firm Milton Huse have entered into an agreement for the construction and purchase of five residential projects comprising in total 346 homes located in various locations in Denmark.
The projects will all receive the DGNB Silver sustainability certification and to improve the projects, playgrounds will be added to all five projects, and a common-use activity house is planned to be built in the largest project that comprises a total of 144 units.
Michael Berthelsen, country manager Denmark at Niam, said, ‘We are happy to extend our cooperation with Milton Huse following our first deal earlier this year. We view Milton Huse as a competent and professional residential developer, and we believe that strategic partnerships will create beneficial win-win situations. Together with Milton Huse we continue to see attractive opportunities to develop newly constructed and energy efficient houses adjacent to nature in many parts of the country.’
Milton Huse has already begun the construction and the first houses will be ready for tenants end of 2022. The construction is expected to be fully completed in the first half of 2025.
Erik Rehnquist, CEO and owner of Milton Huse, added, ‘We are proud that Niam has decided to strengthen the cooperation with Milton Huse, which is in line with our strategy regarding long-term partnerships with professional investors. Yet again have we been very happy with the process that we have had with Niam and their team, which as always act professional with a high focus on creating the best conditions for their tenants in all their projects in Denmark.’
With this transaction, Niam is increasing its presence in the Danish residential rental market and its current portfolio in Denmark consists of 2,120 rental units.
