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PATRIZIA acquires a forward purchase residential project near Botanical Garden in Aarhus

Case info

BVK-Residential Europe-Immobilienfonds Patrizia ("PATRIZIA") has acquired a residential project of 8,700 m2 in Aarhus in a forward purchase transaction. The project consists of 136 residential properties in 6 buildings located next to Den Gamle By and the Botanical Garden in the centre of Aarhus.

The residential properties will be a mix of one- to four-bedroom flats with an average size of 64 m2. The construction will be carried out in stages by Raundahl & Moesby A/S and is expected to be ready for occupation in 2020.

The acquisition is made jointly with Universal-Investment on behalf of Bayerische Versorgungskammer, which is the largest pension provider in Germany. With the acquisition, PATRIZIA increases its assets under management in Denmark to approx. DKK 10.5bn.

Accura has advised PATRIZIA in respect of all parts of the transaction, including due diligence investigations and the conclusion of the transfer agreement, construction contract and transaction insurances.

Claes Holm-Nielsen and Esra Kara advised PATRIZIA.  

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