The two high-quality, brand-new properties have been sold by the tier one Danish developer FB Gruppen and comprise a total of 14,901 sqm divided into 186 units. One of the assets was completed in June 2024 while the second was completed in December 2024. The first has been sold with 100% occupancy.

Both buildings have green roofs with solar panels and are expected to achieve DGNB Gold Certification and have received a EPC ‘A2020’ rating, the newest and highest rating in the Danish market. Among other sustainability elements, smart meters have been installed in order to collect consumption data while energy will be supplied through efficient central district heating.

With a population of c. 2.1 million, Greater Copenhagen has experienced expansive growth over the past decade, resulting in a substantial demand surplus for housing. Ballerup has become a popular residential location, and its attractiveness driven by its close proximity to central Copenhagen, high-quality local amenities and strong local employment. Additionally, a new light rail train line set for launch in 2025 will further enhance connectivity.

Taken together, the acquisitions in Ballerup represent the third transaction within the mandate from the German institutional investor over the past three months. The first deal was the acquisition of 160 residential units in Madrid while the second was a forward funded deal to build 99 homes at Beaulieu Park in Chelmsford, Essex. Invesco is aiming to close at least one more residential deal in this quarter, with underlying assets spread across four different European countries.

The underlying objective of the PRS mandate is to create a diversified pan-European residential portfolio delivering sustainable distributions and a total return by investing in high-quality PRS assets in prime European cities. The mandate both underscores the attraction of the European PRS market and Invesco Real Estate’s long-term, established success in the European residential sector.

Rob Johnston, Managing Director, Head of Investments, UK & Nordics, Invesco Real Estate, said:

“High-quality residential assets in Denmark continue to be highly sought after, and we’re delighted to have been able to expand our exposure to one of our most favoured European PRS markets – Greater Copenhagen. With the right assets, the local sector in Copenhagen can offer high risk-adjusted returns in a market trading at attractive yields compared to other major European cities.”

Jacob Smergel-Krog, founder & CEO, from RUBIK Properties said:

“We are delighted to collaborate once again with the team at Invesco Real Estate to support their acquisition of these two residential projects in Denmark. Residential real estate remains a compelling asset class, offering strong risk adjusted. Our priority continues to be on tenant-focused properties and prime locations, where we see the greatest demand.”

“We are pleased once again to do business with both Invesco Real Estate and RUBIK properties. The negotiation process exploited strong synergies from our previous transactions and we are always very happy when strong and professional partners express interest in other projects in our portfolio,” said Hans-Bo Hyldig, CEO at FB Gruppen.