Europa core real estate fund invests €88m in Danish residential | News

Europa Capital has invested € 88 million in Danish residential property on behalf of its core real estate fund.

The pan-European real estate investment manager, in cooperation with Keystone Investment Management from Copenhagen, has completed the takeover of 178 newly developed residential units in four buildings in the Amager area of ​​Copenhagen from Gefion.

In May last year, Europe entered into a forward commitment with Gefion on behalf of the Europa Diversified Income Fund (EDIF) and has now taken ownership of the assets after completion and leasing.

The EDIF open-ended fund, which held its first closing price of EUR 350 million last November, targets assets in Western Europe with a focus on France, Germany, the Netherlands and Denmark.

The acquisition of these assets in Copenhagen brings the fund’s gross asset value to almost EUR 400 million, with two-thirds of the logistics and housing revenues remaining at the heart of its investment strategy.

Andy Watson, Partner and Fund Manager at Europa Capital, said, “We see PRS Residential as the long-term, low-volatility backbone for our diversified income portfolio.

“We are delighted to have won and implemented this opportunity for EDIF with Keystone, a local partner with specialist housing experience and a strong track record at Europa Capital in Copenhagen, a city we prefer because of its strong population growth fundamentals.

“The successful rental of these four buildings also shows the attractiveness of high-quality facilities in a unique location on the water.”

Click here to read the digital edition of the latest IPE Real Assets magazine.