Investment manager Bouwfonds REIM has purchased two residential buildings in Copenhagen and carried out its first acquisition in The Hague on behalf of its EUR 400 mln European Residential Fund.
Investment manager Bouwfonds REIM has purchased two residential buildings in Copenhagen and carried out its first acquisition in The Hague on behalf of its EUR 400 mln European Residential Fund.
In the Vejlegade part of Copenhagen, Bouwfonds REIM has bought a building dating from 1918 and two newly built residential properties dating from 2009. The 23 residential units were bought for less than EUR 9 mln, reflecting a gross return of 6.0%. In Frederiksberg, another district of the Danish capital, Bouwfonds has purchased 27 residential units and 35 underground garage parking spaces from Danish property developer Sjælsø for EUR 14 mln, reflecting a gross return of 6.0%.
In the Netherlands, a building comprising 59 residential units was acquired for EUR 6 mln from the pension fund for Dutch construction companies, Bouwinvest.
Bouwfonds European Residential Fund currently holds properties in Germany, France, Norway, Sweden, Denmark and the Netherlands. The fund aims to acquire EUR 1.5 bn worth of residential real estate by the end of 2013.
