Catella expands its existing development activities in Greater Copenhagen, Denmark and initiates construction of 269 affordable apartments in a joint venture with diversified real estate investment manager Barings. The project, named Vega, delivers affordability and social sustainability to a fast-growing suburb of Copenhagen.
The investment is made within the Principal Investments business area, reflecting Catella’s strong financial position, which has allowed continued investments into high-conviction opportunities despite challenging markets.
“We are excited to join forces with the world-leading diversified real estate investment manager Barings on its first real estate investment in Denmark. It will significantly enhance the project’s prospects. It also demonstrates how we, through Principal Investments, can generate value-add business opportunities across our entire platform,” said Morten Gustafson, Managing Director, Catella Investment Management Denmark.
Vega combines sustainability, smart technology, and social impact to create a resilient and inclusive community. Designed to minimise carbon footprint through low-emission materials and energy-efficient solutions, the development also promotes energy- and utility savings and sustainable mobility with electric vehicle infrastructure, cycling amenities, and shared mobility services. The project addresses Greater Copenhagen’s housing shortage by delivering affordable apartments focusing on multi-generational living.
Andreas Norberg, Managing Director and Head of Nordics at Barings Real Estate, said: “Entering the Danish market through a partnership with Catella, a highly regarded specialist with deep-rooted experience in Copenhagen’s residential sector, aligns well with our strategy of working alongside local experts to deliver high-quality, sustainable living spaces across Europe. We look forward to breaking ground on the scheme and bringing much-needed homes to this dynamic and growing city.”
Vega is located next to Catella’s previous residential project, GreenPoint – a 445-unit multi-family housing complex in Herlev, Copenhagen, that will be completed in October 2025. The project has achieved a first-of-its-kind double platinum certification with the first DGNB Platinum certification for a Built-to-Rent project in Copenhagen, as well as Denmark’s first WiredScore Home Platinum certificate for its digital connectivity.
“The Vega project is a clear example of our strategy within Principal Investments. Going forward, we aim to diversify the portfolio through the strategic use of equity, focusing on seed investments, co-investments, and partnerships – to grow assets under management, increase recurring revenue, and enhance long-term shareholder value,” said Daniel Gorosch, interim CEO and President at Catella Group.
