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Colliers brokers sale of four residential assets in Ørestad, Copenhagen

residential rental property Orestad Denmark

The multi-storey apartment buildings called Emmahus, Gertrudehus, Gads Hus and Trierhus were divested in two separate sales to Orange Capital Partners and Patrizia, respectively. The seller is Bellakvarter A/S, a company owned by domestic pension funds Sampension (66%) and AkademikerPension (33%), with the properties developed by Solstra Development ApS.

The properties are located in the Bellakvarter neighbourhood, a new mixed-use residential and commercial area around the Bella Center exhibition centre in the Copenhagen district of Ørestad. The area is midterm DGNB Gold-certified and is developed based on an ambitious and innovative masterplan. In addition, Bellakvarter enjoys easy access to the Copenhagen Metro as well as multiple recreational areas.

Emmahus and Gertrudehus, ready for occupancy in February and March 2021, comprise a total GLA of 25,434 sq m. The properties were sold in a structured process that attracted substantial interest from a great number of international investors. The buyer, Orange Capital Partners (OCP), invests together with a sovereign wealth fund, with the properties representing their very first investment in Denmark.

Gads Hus was ready for occupancy on 1 July, and Trierhus is scheduled for occupancy on 1 October 2021. Combined the properties have a GLA of 18,432 sq m. Both properties were sold in an “off-market” process to a fund managed by Patrizia, acting on behalf of an institutional investor.

The total sales price exceeded DKK 2 billion, marking also a significant drop in yield levels in the area.

Emmahus, Ørestad, Copenhagen

 

Gertrudehus, Ørestad, Copenhagen

Gads Hus, Ørestad, Copenhagen

Trierhus, Ørestad, Copenhagen



“We are delighted to have assisted Bellakvarter A/S in divesting the four properties, with the transactions underpinning the ever-increasing international investor demand for Copenhagen residential properties. In particular high-volume and high-quality properties are priced very aggressively by investors looking to enter the Danish market,” says Jacob Bruun Borring, Director of Colliers Capital Markets, adding, “We would like to thank both Bellakvarter A/S and the two buyers for a professional and smooth process.”

Read more about Danish commercial property trends in our latest quarterly newsletter, PULSE, here


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