GREYKITE European Real Estate Fund I (the “Fund”) has announced the creation of Danske Homes, a new purpose-built Danish single-family rental (SFR) housing platform comprising approximately 300 units across two prime sites in Aarhus, Denmark. This strategic initiative is being delivered in a joint venture (“JV”) partnership with Brunswick Real Estate (“Brunswick”), a leading Nordic real estate investor and investment manager. The seller of the land is Trim Udvikling ApS.
The projects are concentrated in two of Denmark’s premier micro-locations in Aarhus (Trige and Lisbjerg), which have been chosen for their proximity to top-tier amenities, including high-quality daycare, elementary schools, and excellent public transport connectivity. The surrounding area is also benefitting from robust corporate investment, which is attracting a highly educated workforce and fuelling further housing demand.
This acquisition targets one of Europe’s most dynamic housing markets, with Denmark boasting one of the strongest economies in Europe (2.6 percent unemployment vs. 6 percent EU average). Denmark has displayed continued stable GDP and population growth, causing demand for high-quality rental housing to surge in urban clusters like Aarhus.
The GREYKITE and Brunswick JV will target purpose-built single-family developments to address a pronounced supply and demand imbalance in Denmark. Despite ongoing population growth, the country delivered fewer than 6 new homes per 1,000 residents, which is well below other major European countries and underscores the need for additional high-quality housing stock. In Aarhus specifically, low supply has driven vacancy to frictional levels (1.4 percent), indicating strong rental demand.
This acquisition marks GREYKITE’s sixth strategy for the Fund, which also includes investments in data centers, logistics, multi-let industrial, student housing, and a second single-family rental platform.
Michael Abel, Founder and CEO of GREYKITE, said: “Danske Homes marks an important milestone in GREYKITE’s growth across Continental Europe being the Fund’s sixth investment platform and is a strategy that aligns with our focus on building durable platforms in places where there is real, unmet demand. We see strong, long-term potential in the Danish housing market, and Aarhus stands out as a city where the fundamentals — demographics, employment, and infrastructure — support a high-quality, purpose-built rental community.”
David Hävermark, Partner and CIO, and Kristina Alderin, Partner and Strategy Lead, Brunswick Real Estate, added: “We are pleased to collaborate with GREYKITE and to leverage their strong track record in single-family rentals through the establishment of this joint venture in Denmark. Our partnership lays a solid foundation for long-term value creation, and it also reflects Brunswick’s firm belief in the Danish real estate market, which benefits from strong fundamentals. We are proud to have reached this important milestone and look forward to continued growth ahead.”
