“Swiss Life REF (DE) European Living” buys residential property in Aarhus, Denmark

Swiss Life Asset Managers recently acquired a residential property with 36 apartments in the Danish city of Aarhus as part of an asset deal for its open real estate fund “Swiss Life REF (DE) European Living”. The property in Denmark's second-largest city was sold by ØB Udsigten ApS. The transfer of ownership is planned for the beginning of May 2022, when the property will be transferred to the asset management of Swiss Life Asset Managers Germany.

The award-winning, modern property Stenpassagen 3, 7, 9, 15, 17, built in 2019, is in a prime location and comprises total rental area of 2685 square metres divided into two buildings with 36 apartments and five storage areas. The size of the different apartments varies from 39 to 96 square metres depending on the number of rooms. There are also 16 parking spaces available. The property is fully let and certified to EPC Level A+. It was awarded the Aarhus City Architecture Prize in 2020.

Aarhus is the second-largest city in Denmark and is located 187 kilometres northeast of Copenhagen. Since 2010, the population of Aarhus has increased significantly by around 46 000 people, a growth rate of more than 15%. Thanks to its extensive road networks, the whole of Denmark can be easily reached from Aarhus. The city is also home to the largest university in Denmark with 33 000 students. The property itself is located in the city centre in the Latin quarter, the oldest district in Aarhus, and thus enjoys a prime location. The beach is one kilometre away, and there is a bus stop and a train station within walking distance. There are also several supermarkets, restaurants, bars and a fitness studio nearby.

“Following the acquisition of the first property in Aarhus, Vindrosen 2-14, for “Swiss Life European Living” at the end of last year, we are very pleased to have secured another particularly attractive and centrally located building in Aarhus for our fund," says Viktoria Hoffmann, portfolio manager at European Living.