Studentbostäder i Norden AB (publ) (“SBS”) has signed an agreement to acquire a student housing project with 173 units located in Copenhagen
Studentbostäder i Norden AB (publ) (“SBS”) has signed an agreement to acquire 100 percent of a student housing complex located in Copenhagen, Denmark. The gross asset value is estimated to approx. DKK 344.5 million. The property has great transport communications to central Copenhagen. The handover is scheduled for December 2023.
The property is attractively located at Englandsvej 51 in Copenhagen’s Amager West city district, approximately three kilometers southeast of Copenhagen city center and only minutes from University of Copenhagen. It is located within walking distance of DR Byen Metro Station which provides expedited access to Copenhagen’s many educational institutions, city districts, and attractions. From the metro station, the University of Copenhagen and the IT University of Copenhagen are reachable within minutes.
The complex will feature 173 student apartment units spread across one five-story block, totaling 6,484 sqm of gross lettable area. The student housing units have an average size of 37 sqm (gross area) and feature either French balconies or private balconies, as well as private in-suite kitchens and bathrooms. The development is tailored for student-living, with common facilities including study rooms, lounge areas and kitchens.
“We are proud to acquire another project in attractive Copenhagen. The project is being developed based on the concept that a home is more than just a home. We create a community and social areas for our tenants. With attractive and central student housing, more young people can get closer to their dream profession and shape their future”, says Rebecka Eidenert, CEO at SBS.
The gross asset value is estimated at approx. DKK 344.5 million and the project is expected to generate an annual rental income of approx. DKK 16.6 million.
The sellers – SEBC II ApS and Bonum Development A/S – are developers of the project and responsible for the construction and turn-key delivery of the complex. Once fully completed, SBS will take over the property. Construction of the complex is ongoing, with completion and handover scheduled for December 2023.
The project will be financed by a loan provided by a Danish mortgage bank at an LTV of approx. 69 percent upon completion. The transaction structuring and arrangement of external financing was led by Pareto Securities. Plesner acted as legal advisors for SBS.
For further information, please contact:
Rebecka Eidenert, CEO Studentbostäder i Norden,
+46-70 786 54 54, firstname.lastname@example.org