M&G Real Estate acquires residential project in Denmark

Urban Partners, AG Gruppen, and Nordea Pension Ejendomme have sold their Banehaverne residential project in Greater Copenhagen to M&G Real Estate.]

Banehaverne Copenhagen

The scheme, valued in excess of €250 mln, was concluded on behalf of the €5.21 bn M&G European Property Fund.

Banehaverne is a large residential complex spanning 56,000 m2 and featuring 667 rental apartments.

Located on the border of Glostrup and Brøndby, the development transformed a former industrial site into a new residential area, offering convenient access to public transport, city facilities, and natural spaces.

The project comprises six residential buildings surrounding green courtyards, all linked by a central path. It boasts shared outdoor areas, community spaces, and various housing types designed to foster daily living and resident interaction.

Banehaverne is also certified DGNB Gold, highlighting its commitment to energy efficiency and long-term sustainability.

Thomas Riise-Jakobsen, head of Denmark for Urban Partners, said: The transaction reflects the continued demand for high-quality residential assets in Greater Copenhagen, including well-connected suburban locations.”

Flemming Engelhardt, CEO of Nordea Pension Ejendomme, commented: “The collaboration between AG Gruppen, Urban Partners, and Nordea Pension Ejendomme has demonstrated that strong results are often achieved when different competencies, perspectives, and profiles are brought together.”

Robert Göthe, head of Nordics at M&G Real Estate, commented: “Banehaverne is exactly the kind of high-quality, sustainable residential asset we want to add to our Nordics portfolio. Greater Copenhagen has a shortage of new rental homes, which makes this an attractive market for long-term investors.” 

Simon Ellis, manager of the M&G European Property Fund at M&G Real Estate, said: “This is a rare opportunity to acquire a high-quality residential asset at scale in one of Europe’s most attractive and supply-constrained city regions. The deal takes the Fund’s living exposure above 25% and builds on more than €650 mln of residential purchases completed or agreed across Europe over the past six months.”

Urban Partners, AG Gruppen and Nordea Pension Ejendomme were advised by Accura, PwC, Howden and Colliers.