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Nordic Update

Blackstone buys Danish local partner

Publicerad: 4 maj 2019, 18:39

Iconic Danish statue The Little Mermaid. Photo: Sverrir Thór.

Blackstone has announced the acqusition of its local partner 360 North in Denmark. In a press release the private equity giant writes that its residential real estate platform will continue to build on the 360 North team’s deep knowledge of the local market and its track record.

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Blackstone Group

”By drawing on this record and Blackstone’s capital, ability to scale, and decades of experience as responsible and proactive owners, it will continue to deliver the highest quality service for residents, while investing in the community and creating jobs in Copenhagen.  The platform intends to own its assets for decades, and is continuing to focus on investments such as renovating homes, addressing maintenance backlogs and improving sustainability, while bringing additional units to market which will contribute to addressing the housing shortage in Copenhagen”, Blackstone writes.

According to Danish property news outfit, Ejendomswatch, the 360 North portfolio has a total value of approximately DKK 10 billion.

Sverrir Thór

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Blackstone Group

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