This transaction is the fourth residential investment Invesco has invested in on behalf of its institutional investors in Denmark in 2021. The transaction further increases Invesco Real Estate’s exposure to the Danish residential investment market as part of its European Living Fund, which is focused on high-grade, turnkey residential developments with attractive social and environmental profiles located in strong, growing micro locations in Europe. 

The acquisition has been secured in cooperation with Copenhagen-based RUBIK Properties, a leading operating partner in Denmark and an established partner for Invesco. The development complies with high ESG building standards and received the highest BR 18 grade A rating for this type of asset.* 

The residential investment, Lammekær, consists of 56 townhouses completed in 2019. Situated in Glostrup, a suburb to the west of Copenhagen, the asset is surrounded by scenic areas such as Vestskoven and Vestvolden. The site, currently at 100% occupancy, consists of two storey, four-bedroom properties with an average size of c. 130 sqm.

Glostrup is a strong Copenhagen suburban commuter centre with good population growth and a current housing shortage. The development is close to two train stations and a cycle way which takes around 30 mins to Central Copenhagen. Central Copenhagen is also accessible via bus and car.

This latest transaction follows a series of acquisitions in the Danish residential market by Invesco this year: Vejlesvinget in Vallensbæk, Ved Vandet in Ishøj and Torvevej in Skovlunde, all situated in Greater Copenhagen.

John German, Managing Director - Residential Investments, Invesco, said:

“Lammekær offers affordable, high-quality residential housing to families in a Greater Copenhagen location and as well as offering easy access into the city centre. We are delighted to be working once again with Rubik Properties and strengthening our relationship with a key partner in a highly attractive European market.”

Jacob Smergel-Krog from Rubik Properties said:

“We are pleased to once again be working with the team at Invesco Real Estate and supporting them in acquiring this residential opportunity in Greater Copenhagen. The project in Glostrup is a strong match, with 56 high specification townhouses suitable for families.”

William Ertz, Senior Director – Fund Management, Invesco, concluded:

“With this acquisition we add a prime stabilized and fully let residential asset to our growing pan-European residential portfolio, Lammekær enables us to generate income from “Day One” and diversifies our Fund to five countries within the first year of its launch.”