Nuveen Real Estate has agreed to acquire Campus, Copenhagen, a 390-unit student accommodation asset on behalf of its European Cities strategy as part of a forward commitment. The price agreed is €100 million ($114 million), with the project due to be completed in summer 2022.
The acquisition will mark the first housing investment for the European Cities strategy and the first purchase for the firm in Denmark. Once completed, the European Cities strategy will own 15 assets in key, gateway cities across Europe, with a total of €2 billion ($2.3 billion).
Campus will comprise 16,500 square meters (178,000 square feet) of residential space/student accommodation across seven floors. It is located in the heart of the city adjacent to the University of Copenhagen’s largest campus and within roughly half a kilometer (a mile) of the IT University of Copenhagen. In addition to the accommodation, the property will also benefit from a cinema, gym, café and rooftop terraces.
