Catella Residential Investment Management (CRIM) has paid €60 million ($68 million) for a student housing property in Copenhagen, on behalf of a German pension fund. The seller was Teglholm Park P/S.
The 225-apartment, five-story student residence, known as Støberiet, consists of one- and two-bedroom apartments, a small communal courtyard, laundry and storage facilities, and a retail unit that is leased to a well-known supermarket.
CRIM said the property was a former industrial building dating from the 1920s. It was redeveloped in 2015 and has been designed to high energy standards.
“On the one hand, redevelopments like this one meet our high environmental sustainability standards; on the other, they fit perfectly into our antifragility strategy,” said Benjamin Rüther, head of fund management at CRIM. “Furthermore, Teglholmen is rapidly developing into one of Copenhagen’s prime residential locations and holds plenty of upside potential as urban regen
