The circa 12,600 sqm asset, located in the suburb of Valby, was a forward commitment transaction contracted by Europa Capital in late 2016 with completion taking place on 1 March 2019, shortly after practical completion of the development. Since then it has focused on operationally stabilising all the apartments which comprise one, two, and three bedrooms flats.
Valby is quickly establishing itself as a popular residential area due to its close proximity to central Copenhagen, with excellent connectivity via local public transport and road networks, including a number of new cycle paths.
Alex Druttman, Director at Europa Capital, comments:
“We have a continued focus on rapidly urbanising countries like Denmark where ongoing population trends offer opportunities to purchase assets for value-add strategies. Here we were able to apply proactive management to enhance the attractiveness of the investment to deliver attractive returns for our investors with this disposal."
“Copenhagen has a dense, historic and relatively protected city centre with limited opportunities to create new housing supply, which leads to increased demand for refurbished residential space and the growth of areas like Valby.”
Europa Capital first invested in Scandinavia in 2007 and has since completed over EUR 570 million in transactions. Most recently Europa Capital acquired an office in Stockholm that it will refurbish in partnership with Nordic asset manager, NCAP.