Aviva Investors Real Estate France has made the first residential property investment, on behalf of its clients, with the acquisition of the assets ‘Farumgade 4-14’ and ‘Skelmosevej 6’ in Copenhagen.
The two assets together comprise a total of 58 residential units, representing approximately a total of 12,300 sq m lettable area.
These transactions mark the first residential properties acquired by Aviva Investors Real Estate France in Denmark, adding to existing residential portfolio under management, currently mainly located in France.
With these acquisitions, Aviva Investors Real Estate France manages €700m of residential assets across Europe, representing 10% of its total portfolio under management in direct.
”These investments reflect Aviva Investors Real Estate France intention to widen its pan-European residential portfolio under management through the acquisition of attractive assets, located in strong and growing micro locations. Copenhagen is identified by Aviva Investors Real Estate France as one of the best real estate investment markets in Europe, driven by fundamentals such as a strong population, tourism growth and attractive financing conditions,” the company said.
Both assets are located in the vibrant and established locations of Nørrebro and Valby and benefit from central locations, with excellent accesses to road and public transportation. Delivered respectively in 2017 and 2020, Farumgade 4-14 and Skelmosevej 6, offer efficient layouts with high quality outdoor spaces.
Grégoire Bailly-Salins, Head of Transactions Europe at Aviva Investors Real Estate France comments: “The acquisition of these two assets, located in vibrant districts of the city, diversifies and strengthen our portfolio under management in Copenhagen. We are delighted with these transactions that are in-line with our desire to invest into the residential sector in addition to our core assets classes.”