Nordic private landlord Niam has inked a deal with developer Milton Huse for the construction and purchase of two residential projects in Denmark, comprising 244 homes.
Financial details were not disclosed.
The majority of the homes are located in Haslev, central Zealand, with the rest located in Lyndelse, just south of Odense, Funen.
Michael Berthelsen, country manager Denmark, said: 'We are very pleased to be collaborating with Milton Huse on these two residential projects, which will be a great addition to our existing portfolio.
'Both projects are within short commuting distance to each cities’ large university hospitals, and we believe that, among others, hospital employees will be interested in these energy-friendly quality housing, located close to nature at an affordable rent.'
The Haslev homes will be a part of a new large residential area, where the ambition is to create an attractive and affordable residential area. Playgrounds and a large activity house are being built in the area, which will be used for community-focused activities. There is also an option to convert some of the units to senior living houses in order for future tenants to stay in their homes, even if a need for care arises.
Upon completion, the projects will be certified DGNB Silver.
Milton Huse expects the project to start end of 2021, with the first round of homes to be completed in early 2023. Construction is expected to be finalised during the first quarter of 2025.
Erik Rehnquist, CEO and owner of Milton Huse, said: 'We are very pleased with the process with Niam, and look forward to the future collaboration. Niam is very pragmatic in their approach, with a strong focus on the tenants, offering common facility, outside area with a playground and a consistent focus on sustainability. This is completely in line with Milton House's own values.'
Niam increases its presence in the Danish residential rental market through the deal, to approximately 1,650 rental apartments.
