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Alma Property Partners and AG Gruppen acquire land to build 15,500 sqm of new residential in Greater Copenhagen

Press release   •   Mar 26, 2020 06:13 GMT

Alma Property Partners (‘Alma’) and AG Gruppen has completed an agreement for acquiring land with the purpose of building approximately 200 residential units near the future light rail station ‘Glostrup Nord’ in Greater Copenhagen. The local plan application has been prepared by Holscher Nordberg Arkitekter and is now being processed by the municipality of Albertslund.

The purchase has been completed in a joint venture between Alma and AG Gruppen. Robin Feddern, CEO of AG Gruppen, is looking forward to the new partnership: “AG Gruppen has for many years been developing strong partnerships in the industry, and we are expecting a lot from our new partnership with Alma Property Partners. The cooperation has been 100% transparent from day one and with our joint mindset, professionalism and working approach, I am confident that we will deliver a strong residential project to Albertslund.”

The project is expected to start in the beginning of 2021 and will consist of circa 200 residential units in various sizes. The apartments will be in the range of 45-100 sqm in buildings that are 4 to 9 floors, as well as detached houses and 2-story apartment to the west. That way, we will create a residential area with a focus on diversity and a varied supply which is attractive for all generations. The green urban spaces in the area will be kept free of cars, creating a safe and nice environment for everyone.

The land is situated in the northern part of Albertslund, Hersted, with a fantastic location close to the Vestskoven forest and residential community of Herstedøster Landsby. The area, which is currently a mixed industrial and commercial area, will in the coming years be transformed into a modern district with a mix of residential and commercial properties. The Mayor of Albertslund, Steen Christiansen, is very pleased and welcomes Alma Property Partners’ and AG Gruppens’ effort in the area: “We have great ambitions for the development of Hersted, where we wish to create a new value-based town/district that shows how the UN's global goals and strong cooperation between landowners, businesses, education and citizens can boost the green transition and the city's development. A huge thank you to Alma Property Partners and AG Gruppen for the good cooperation and the good intentions of the project, which we are very much looking forward to seeing implemented.”

This is Alma’s first Danish investment in its second fund after hiring Hüseyin Meric (Head of Denmark) and opening the Danish office last year. Hüseyin Meric is looking forward to the new partnership with AG Gruppen and is excited about the investment opportunity in the attractive residential segment in Greater Copenhagen: “We continue to see a demand/supply imbalance for new and modern residential apartments in Greater Copenhagen, and the route along the new light rail is an obvious focus area for us. This location is ideal with Glostrup Nord station opening within a few minutes walking distance and the short distance to large green areas. We look forward to being a part of developing a completely new district in Greater Copenhagen with a focus on diversity and on working closely with AG Gruppen who is a highly experienced residential developer.”

For further information, please contact:
Hüseyin Meric, Head of Denmark
Alma Property Partners
hm@almaproperty.dk
+45 31 65 00 42

Alma Property Partners is a real estate investment company focused on the Nordic Region. Alma Property Partners manages two opportunistic funds, Alma Property Partners I AB and Alma Property Partners II AB, with a total of ca. EUR 400 million in equity commitments. The company is built on the principles of active ownership and strong alignment with investors and is therefore fully owned by senior team members that work actively within the company. The team has extensive experience and a strong track record in Nordic real estate investment and asset management. Alma Property Partners aims to become the leading Nordic real estate investment company and the partner of choice for institutional investors seeking real estate exposure in the Nordic Region. For more information, please visit almaproperty.se.