ALFA Development sells newly constructed residential properties to BlackRock Real Assets
A total of 187 units will be built in accordance with the Nordic Swan Ecolabel standards. The neighbourhood, developed in collaboration with Arkitema Architects, is conceived as an urban village where people thrive across generations, professions and family patterns. In mid-March, the last eager residents took over their homes in the first phase of TRONGÅRDEN, which consists of 47 owner-occupied units and 67 residential rental units. Only one month after the handover, ALFA Development has now sold the 67 rental units to BlackRock Real Assets, which has taken over the property as of 15 April 2021.
"We are very pleased with the sale of TRONGÅRDENS residential rental units to BlackRock - it has been a reasonable process and we are happy with the cooperation. This is the second project in a very short time where we have developed, built, rented out and finally sold to an international investor. I am proud of our strong team, which once again proves that we can manage the entire value chain. At the same time, the sale underlines a business area that we would like to build on in the future, as a supplement to the development and sale of owner-occupied housing," says CEO in ALFA Development, Jan Kristensen, adding that the rental units are not yet fully let, but well on their way.
"After a very good process and a constructive cooperation with ALFA Development, we are very pleased to acquire these newly constructed units which meet the standards of the Nordic Swan Ecolabel and are situated in a very attractive area near Copenhagen. The deal is in line with our Nordic real estate growth strategy and is a testament to our commitment both to the Nordic real estate market and to sustainable investment across asset classes," says Anton Friling, Vice President of BlackRock Real Assets' Nordic real estate team.
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