Curzon Capital Partners 5 Long-Life, a core-plus fund managed by Tristan Capital Partners, has secured the forward purchase of a 208-unit residential scheme in Copenhagen, Denmark, for an undisclosed amount.
The turn-key project will be constructed by developer Casa A/S and is set to benefit from the upcoming light railway that will enhance the connectivity of Glostrup with the Greater Copenhagen area. Tristan acted together with Keystone Investment Management on the deal.
Anne-Jan Jager, executive director at Tristan Capital Partners, said: ‘Continued strong population growth and a substantial supply shortage have driven the need for new, energy-efficient, quality rental housing in the greater Copenhagen area. This project will be built in accordance with the highest energy efficiency standards in Denmark, allowing the fund to qualify for its first green bond financing.’
He added: ‘We are keen on adding similar residential projects to our Nordics portfolio.’
Torben Modvig, CEO at Casa A/S, added: ‘Such projects are in high demand in Copenhagen at present and especially in the areas in close proximity to the city centre, such as Glostrup. The development’s innovative, efficient and sustainable design will be built in accordance with Denmark’s high environmental standards (DGNB-Gold) and will receive the highest achievable energy labels.’