A partnership between Norwegian companies Lille Oslo Eiendom and Strand Havfiske is buying 173 student housing units in Denmark for DKK 362 mln (€48.5 mln).
Greater Copenhagen Residential (GCR) acquired the assets from Bonum Development and SEBC.
The duo plans to build up a DKK 1 bn (€134 mln) housing portfolio in Greater Copenhagen over the next two to three years.
The 6,500 m2 PBSA complex, Englandshaven, is located near the inner city of Copenhagen. It consists of 173 units with independent designs ranging between 32 and 50 m2, and each unit has its kitchen, bathroom, and balcony. In addition, the building has multiple common areas, including a kitchen, library, lounge area, fitness facilities, and a courtyard.
Tenants moved into the new building at the beginning of July 2024.
Bjørn Matre, Managing Director of Lille Oslo Eiendom, said: ‘We are ready to invest when the good opportunities arise.’
Jesper Bo Hansen, Managing Director at Catella Corporate Finance, commented: ‘Following a number of successful transactions in the first half of 2024, we are happy to see markets stabilizing and a continued interest in quality projects. Furthermore, it shows continued interest in the maturing and growing co-living investment market. The macro fundamentals in Denmark, as well as the demographic development in Copenhagen, foster a still growing demand for small housing units in good locations. This makes Englandshaven and similar residential properties increasingly attractive for local and international investors.’
The buyers were advised by Thylander, PwC, Accura Advokatpartnerselskab, and emcon, while the sellers were assisted by Catella Corporate Finance, Advokatfirmaet Børge Nielsen, and Deloitte.
