Nrep has acquired a residential building with 390 residential units in Islands Brygge in Denmark鈥檚 capital from Real Estate.
The real estate arm of Nordic developer and investor Urban Partners said the acquisition of the asset in Copenhagen was made via its NREP Income+ (NIP) open-ended fund aimed at long-term investments into modern logistics facilities, middle-income residential, offices and care homes.
The property is located close to both the University of Copenhagen, the IT University and metro connections, and will be let through Nrep鈥檚 in-house platform, Juli Living. The asset comprises 390 residential units that are targeted at young students and professionals.
Thomas Riise-Jakobsen, partner and head of Nrep Denmark, said: 鈥淐openhagen remains one of the European cities with the greatest pressure on student and youth housing.
鈥淲e see a continuing need for flexible, centrally located housing that speaks directly to the needs of young people 鈥� whether they are students, interns or at the beginning of their careers. With this investment, we are continuing our ambition to combine high operational quality with attractive tenant experiences and a city-centre location.鈥�
Oscar Maltesen, head of investments, Nordics, at Nuveen Real Estate, said: 鈥淲e continue to see general good demand for housing in the Nordic region, and especially student housing.
鈥淭herefore, having completed on the business plan for the asset, taking it from development to operational, it was good timing for us to complete a sale, to recycle the capital into new interesting investment opportunities.鈥�
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