KKR, a leading global investment firm, today announces the acquisition of high-quality, Purpose-Built Student Accommodation (PBSA) assets in Greater Copenhagen from TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG, a leading global alternative asset management firm.
The PBSA assets, completed in three phases from 2020 to 2023, comprises 494 units across the three assets. The PBSA assets are unique in their quality, modern and furnished characteristics, and differentiated amenities on-site. The assets are located in an established residential area in close proximity and with excellent transportation links to Copenhagen’s city centre, providing easy access for students to all of Copenhagen’s major universities, including Copenhagen Business School, meeting demand for student accommodation in a market characterised by structural undersupply. All properties have EPC rating A and are in the process of being DGNB certified.
KKR is making the investment through its European Core+ Real Estate strategy, which focuses on thematic investments in high quality, substantially stabilised assets with long-term growth potential. Keystone, the Danish residential specialist, will act as the local operating partner and brings significant experience in managing similar assets in nearby locations over recent years. KKR and Keystone will continue to cooperate with the Danish student accommodation operator, The Mark, for property management of the assets.
Source: media.kkr.com on the 21st of May, 2024
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