Slättö enters Copenhagen residential market

Nordic private equity real estate firm Slättö has made its first foray into the Copenhagen residential market by acquiring a 6,500 m2 apartment building.

Søborg Hovedgade 96, Copenhagen

This residential asset, at Søborg Hovedgade 96, consists of 53 apartments and six commercial units built in 2017, and positions Slättö in a desirable area with low housing availability and limited new construction.
The timing is strategic, as investor interest in Greater Copenhagen's residential market is growing faster than the housing supply. The region is experiencing a ten-year low in available apartments and a slow construction pipeline, leading to increased competition for quality residential properties.
The acquired property is situated on Søborg's main shopping street, offering residents convenient access to amenities and proximity to the Utterslev Mose nature reserve. The apartments are spacious, averaging 105 m2 with efficient layouts, and boast high technical standards, including an energy rating of A, elevators, parking, and balconies (with private roof terraces for penthouses).
Slättö sees the Greater Copenhagen residential market as a strong investment due to the significant imbalance between housing supply and demand. Condominium prices in Copenhagen and Søborg have risen by 20% in the last year, and the number of owner-occupied flats for sale is at a ten-year low, indicating strong potential for rental and condominium price growth. The firm also plans to explore selling individual apartments, leveraging the price difference between private and institutional markets.
With this new acquisition, Slättö's residential portfolio, managed through its funds, now includes approximately 9,000 apartments across Sweden, Finland, and Denmark, totalling around 476,000 m2 of rentable space. The portfolio also has 133,000 m2 of projects under development.
Anders Østergaard Hansen, country head Denmark at Slättö, said: “Denmark is the first mover in a substantial market recovery across the Nordics. This acquisition offers a strong entry point into the Copenhagen residential market. By acquiring a high-quality asset in an attractive location with limited competing supply, we are positioned to capture value from the persistent imbalance in the capital’s condominium and rental markets.” 
Koncenton was the seller of the property, with Bruun & Hjejle, PwC, and Emcon advising Slättö on the acquisition.