NREP buys 50% stake in Danish developer Tetris

Nordic private equity investor NREP has inked a deal to acquire 50% of shares in Tetris, a Copenhagen-focused developer of residential and commercial property.

Financial details were not disclosed.

NREP said it would provide capital to execute ambitious growth plans across the firm's 'concept-driven' development strategy, including the construction of 1,000 units of community-focused senior housing.

Tetris currently has 60 employees within the business lines of real estate investment and development, project management and advisory services, and construction steering.

The firm said that its 'data-driven and analytical approach founded on scientific research and thorough demographic analysis' had led to the creation of a senior co-living platform called VoksenPlus. 'The concept is designed to improve social relations and address loneliness among seniors by emphasising community creation,' a Tetris spokesperson said.

NREP said that its commitment to Tetris would include helping to expand the VoksenPlus concept across Denmark, by funding a five-year pipeline of 15 locations, totalling 80,000 m2 and 1,000 rental units.

'Tetris has been effective in developing attractive real estate concepts and projects by being on the forefront of industry trends and successfully forecasting end-user desires,' said says Jesper Bo Hansen, head of corporate finance at Catella, advisors to Tetris.

'Their concept VoksenPlus targets a mega-trend with significant potential in Denmark as more than 80,000 seniors consider moving into senior housing communities within the next five years,' Bo Hansen concluded.

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