Europa Capital sells the Hi:Life residential scheme in Denmark

Europa Capital, the pan-European real estate investment manager, in partnership with Keystone Investment Management, has sold Hi:Life residential scheme in Aarhus, Denmark, on behalf of its pan-European value-add fund, Europa Fund V, for €85 million ($100 million). The purchaser is the Catella Wohnen Europa Fund, which is managed by

Catella Residential Investment Management GmbH (CRIM) and Catella Real Estate AG (CREAG).

Europa Capital and Keystone forward funded the development of the 17,600-square-meter (189,445-square-foot) project, which opened in 2020. The building, which is fully leased, comprises 234 one- to three-bedroom apartments with communal roof terraces, which are let at affordable rents, as well as a restaurant unit. The building is designed to be energy efficient, with solar panels on the roof.

Hi:Life is located in Christiansbjerg, the northern district of Aarhus, the second largest city in Denmark. The asset benefits from strong transport con