Deutsche sells Danish student accommodation platform for €314m

Deutsche Finance International (DFI), the pan-European private equity real estate investor that manages €3 billion ($3.4 billion) of assets and specializes in customer-centric real estate, has sold its Danish student accommodation platform, Blækhus, for €314 million ($355.9 million) to the global real asset investment manager PATRIZIA AG. The transaction was undertaken on behalf of DFI’s inaugural fund, DFI Value-Add Fund I (DFI EVAF), and marks the Fund’s fourth successful 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, close to multiple universities and served by strong transport links.

The aggregation strategy consisted of acquisitions, refurbishments and forward purchases, primarily on an off-m