DFI sells Danish student accommodation platform for €314m

DFI sells Danish student accommodation platform for €314m

Deutsche Finance International (DFI) has sold its Danish student accommodation platform, Blækhus, for €314 million to the global real asset investment manager, Patrizia.

The transaction was undertaken on behalf of DFI’s inaugural fund, DFI Value-Add Fund I and marks the fund’s fourth exit.

Blækhus was established by DFI in 2018 with the intention of creating the leading Danish student accommodation brand. Since then, it has assembled the largest student portfolio in Denmark, comprising 1,186 units across seven assets, with the majority located in Copenhagen. All assets are centrally located, in close proximity to multiple universities and benefit from strong transport links.

Paul Nearchou, Managing Director at DFI, added: “Launching the Blækhus platform in 2018 has allowed us to be early movers and one of the largest investors in the Danish student accommodation market. The strength of the Blækhus brand and the associated portfolio is testament to the work of our team over the last three years which we are extremely proud of”.

Gavin Neilan, Co-Founder and Co-Managing Partner, at DFI said: “Aggregating portfolios and establishing consumer-centric operating platforms are central investment themes for DFI. Blækhus demonstrates our ability to put that strategy into action and ultimately crystallise the value we have created on behalf of our investors.”