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Denmark: Swiss Life Asset Managers (SLAM) has purchased a building currently under construction in Copenhagen, set to be a 95-unit aparthotel.
SLAM made acquisition through its ESG-focussed real estate fund TIGR. AG Gruppen will continue its involvement in the project as contractor.
When complete, the aparthotel will be operated by Movinn on a long-term master lease agreement. Located in Amager, will feature a reception, coworking space, and wellness area.
The property is targeting EPC 12020 and DGNB Gold certifications.
Bjarke Windeløv Graae, CEO at AG Gruppen, said: “We are pleased to announce the commencement of construction for Movinn’s new serviced apartments nearby Amager Strand. We also extend our congratulations to Swiss Life Asset Managers on their acquisition of the project and would like to thank both Movinn and Swiss Life Asset Managers for an excellent collaboration.”
Guillaume Lau, portfolio manager at SLAM UK, said: “This acquisition provides compelling exposure to Copenhagen’s living segment, which benefits from attractive fundamentals. The property’s scale offers operational efficiencies in a fragmented serviced apartment market, and we’re excited to support Movinn A/S’s continued growth.”
Patrick Blok, CEO of Movinn, said: “Having Swiss Life Asset Managers as the buyer of this project is a strong validation of our concept and strategy. It highlights the strength of our aparthotel model and the trust placed in Movinn as a tenant and operator.
“We are very pleased with the process and look forward to preparing for the opening and are looking forward to the collaboration with Swiss Life. At the same time, I want to thank AG Gruppen for a constructive and professional partnership in bringing this project to life.”
Construction is expected to last for 18 months, after which the aparthotel is ready to launch in 2027.
Highlights:
• Swiss Life Asset Managers has acquired a 95-unit aparthotel development in Copenhagen’s Amager district.
• The project is backed by SLAM’s ESG-focused TIGR fund and constructed by AG Gruppen.
• Movinn will operate the property under a long-term master lease.
• The building is targeting EPC 2020 and DGNB Gold sustainability certifications.
• Opening is expected in 2027.
