The 10,500 m2 portfolio was acquired from major Danish residential developer, Birch Ejendomme. Financial details were not disclosed.

The first half of the acquired portfolio is in Ans Søpark and comprise of 56 units divided on 43 terraced houses and 13 apartments with an average unit size of approximately 97 m2. These properties were built between 2005-2019 and the deal is expected to close December 1, 2021.

The other 65 residential units are under construction and located in Sejling, just outside of Silkeborg. With an expected completion in October 2022, the residentials will be sustainably certified with DGNB Gold.

Michael Berthelsen, country manager Denmark at Niam, said: 'We are very satisfied with the completion of another successful transaction with Birch Ejendomme.

'We have a focus on creating long-term collaborations with developers who we know deliver properties with good quality, at the agreed time and to the agreed price.

'These properties are a good fit for our current residential portfolio, with a clear focus on high-quality and modern properties with proximity to nature, infrastructurally well located close to schools and jobs.'

Thomas Bertelsen, partner and owner at Birch Ejendomme, said: 'We are very pleased to be expanding our close cooperation with Niam - a professional and reputable investor once again.

'We appreciate the trust from Niam to deliver yet another three projects which contain affordable and sustainable quality buildings.'

The agreement in Ans Søpark is conditional on a finalised pre-emption process with the current tenants, which is expected to be finalised prior to December 1, 2021.

With this transaction, Niam increases its Danish residential rental holdings to around 1,770 rental units.