The seller is CECN ApS and Ejendomsselskabet Casa Nord. Financial details were not disclosed.

The deal marks the fourth residential investment signed by Invesco on behalf of its institutional investors in Denmark in 2021.

The transaction further increases Invesco Real Estate’s exposure to the Danish residential investment market as part of its European Living Fund.

John German, managing director - residential investments, Invesco, said: 'Lammekær offers affordable, high-quality residential housing to families in a Greater Copenhagen location and as well as offering easy access into the city centre.

'We are delighted to be working once again with RUBIK Properties and strengthening our relationship with a key partner in a highly attractive European market.'

The residential investment, dubbed Lammekær, is situated in Glostrup and consists of 56 townhouses completed in 2019. The site, currently at 100% occupancy, consists of two storey, four-bedroom properties with an average size of 130 m2.

The acquisition has been secured in cooperation with Copenhagen-based Rubik Properties The development complies with high ESG building standards and received the highest BR 18 grade A rating for this type of asset.

Jacob Smergel-Krog of Rubik said: 'We are pleased to once again be working with the team at Invesco Real Estate and supporting them in acquiring this residential opportunity in Greater Copenhagen.

'The project in Glostrup is a strong match, with 56 high specification townhouses suitable for families.'

William Ertz, senior director – fund management, Invesco, concluded: 'With this acquisition we add a prime stabilised and fully let residential asset to our growing pan-European residential portfolio, Lammekær enables us to generate income from day one and diversifies our fund to five countries within the first year of its launch.'