Nordic private invsetor CapMan Real Estate has acquired three residential buildings under development in Risskov in northern Aarhus, Denmark, from developer Domis.
Financial details were not disclosed.
The 11,347 m2 asset is a part of the Risskov Brynet scheme and includes 186 residential units under construction across three properties.
The first two buildings will be delivered in April 2019 with a plan to lease all 87 of their residential units. The 99 units in the third building, to be delivered in September 2019, will be sold-off to private individuals.
The asset has been acquired by the CapMan Real Estate II fund.
'We are excited about the acquisition of the Risskov Brynet property into our residential portfolio in Denmark,' said Peter Gill, investment director at CapMan Real Estate.
'The trend for increased urbanisation continues to strengthen the Aarhus residential market. Young people from all parts of Jutland come to Aarhus to study and a large part settle in the city after completing their studies. We intend to make similar investments in residential properties this year,' Gill concluded.
The area around Risskov Brynet is currently under development, with more residential units and two supermarkets planned over the next years, alongside improvements to the adjacent light railway.