Alma Property Partners makes first acquisition with new opportunistic fund

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Alma Property Partners acquired 53 apartments in Copenhagen and Lyngby in Denmark. The transaction is the first for Alma’s new opportunistic fund.

The apartments comprise approximately 5,000 sqm of leasable area and were acquired from Sveafastigheter Fund III by Alma Property Partners I, Alma’s new pan-Nordic opportunistic real estate fund. The Copenhagen property is located in the attractive Amerika Plads neighborhood near the waterfront. The Lyngby property is located near the Sorgenfri palace and the recreational areas around Lyngby Sø.

“We were able to acquire highly modern apartments in fantastic micro locations. Residential prices in and near Copenhagen have appreciated since bottoming out in 2009 but there is still good value in buying select portfolios of leased out condominiums,” says Simon de Château, Partner & CIO of Alma Property Partners. Mr. de Château co-founded Sveafastigheter and was its first CEO from 2003 to 2013.

Catella Denmark, Bruun & Hjejle and Horten were the seller’s adviser in the transaction. Accura advised the buyer.

Alma Property Partners is currently raising capital for a real estate fund with a pan-Nordic opportunistic strategy. The goal is to raise two billion Swedish crowns in total. The company is also co-managing a Swedish residential fund called Akka Egendom together with Möller & Partners. The Akka Egendom fund has 750 million Swedish crowns in equity capital commitments.