A Tristan Capital Partners core-plus fund has partnered with Keystone Investment Management to invest in a 208-unit residential scheme in Denmark.
The Curzon Capital Partners 5 Long-Life fund and Keystone have agreed to buy the residential scheme in Copenhagen by way of a forward purchase deal. Financial details were undisclosed.
The project will be constructed by Danish residential housing developer Casa. Construction is expected to begin this year.
Anne-Jan Jager, executive director at Tristan Capital Partners, said: 鈥淐ontinued strong population growth and a substantial supply shortage have driven the need for new, energy-efficient, quality rental housing in the greater Copenhagen area.
鈥淭his project will be built in accordance with the highest energy efficiency standards in Denmark, allowing the fund to qualify for its first green bond financing.鈥�
Morten Schultz, CEO at Keystone Investment Management, said: 鈥淭his neighbourhood of Copenhagen is the focus of a major gentrification project that was initiated following the masterplan鈥檚 residential zoning approval in 2019.
鈥淲ith the addition of a new light railway station and adjacent developments, we expect this area to be one of the fastest-growing residential areas in the years to come.鈥�
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