Colliers mediates the sale of 324 Aarhus homes sold in the year's largest transaction so far. Thus, more than 21,000 residential square meters change hands, with the Nordic investment bank Pareto Securities selling out to the global property investor and manager Round Hill Capital.
The transaction is thus the year's largest real estate transaction in Denmark so far. Not only is the sale the largest transaction so far this year, it is the first time that London-based Round Hill Capital invests in residential properties in Denmark. This is about three properties. Two of them with a total of 276 apartments are located in the new Blomsterhaven district on the so-called Gasa plot in Tilst, while the third property is located in Risskov north of Aarhus.
Partner in Colliers, Anders Holm, says that there were "very few" potential buyers in play in connection with the off market trade. In addition, according to Anders Holm, the transaction testifies to a softening in the market:
"The transaction confirms a continuing trend where we see strong, professional and foreign investors with a focus on the major growth areas outside Copenhagen. After Copenhagen, Aarhus is the most sought-after location in Denmark for foreign investors. There is considerable liquidity in the market, and there are good framework conditions, including population growth, for continued demand for housing," says Anders Holm.
The newly purchased Aarhus assets have been acquired on behalf of Round Hill Capital's European housing fund ERIF II, which already owns around 1,700 housing units around Europe. On a global level, the 21-year-old company has invested in over 140,000 housing units.
According to Pareto's Danish property manager, Frederik Kock, the sale ensures a satisfactory exit for their investors:
"We are very pleased to complete this transaction with Round Hill Capital despite the challenging market conditions and the significant rate hikes during 2023. The divestiture has provided our investors with a satisfactory exit and underlines the strength of our focus on high-quality modern residential assets in areas with strong underlying demographic trends,” he says.