Birch Ejendomme and Alma Property Partners enter into a joint venture

Birch Ejendomme and Alma Property Partners have entered into their first joint venture regarding the development of a large residential development project in Horsens, Denmark.

The project is located in the new residential area Nørrestrand and is 2.5 km away from the city center of Horsens. Birch Ejendomme and Alma Property Partners will develop a total area of 10,700 m² consisting of 144 apartments. The construction will start in the beginning of 2022 with an expected delivery in the second quarter of 2023. The project is expected to be DGNB gold certified.

Birch Ejendomme will act as a turnkey contractor for the joint venture, as well as being responsible for asset management and property administration when the project is completed and units are being let out.

The residential development on Nørrestrand consists of 8 stages, whereas this project accounts for stage 5 and 6. Birch Ejendomme has previously sold stages 1-4. Some of these have already been delivered and the last part will be delivered in February 2022.

“We are very pleased to expand our partnership with another professional and reputable international investor. This partnership is in line with our continued development of the business, where we have a desire to own the properties that we build either completely, or partly in collaboration with professional investors," says Thomas Bertelsen, Partner at Birch Ejendomme.

Hüseyin Meric, Head of Denmark for Alma Property Partners, welcomes the new partnership with Birch Ejendomme and says: "We have high expectations for the cooperation with Birch Ejendomme, which we consider to be a highly competent property developer with a broad competency coverage in-house." The project in Horsens has an attractive location surrounded by beautiful nature in quiet surroundings and is close to the city center and easy for commuters with quick access to the E-45.

Birch Ejendomme has been advised by Accura and Alma Property Partners by Bruun & Hjejle and EY.

About Birch Ejendomme
Birch Ejendomme is a family-owned company, which today is owned and operated by the five partners, René Birch, Thomas Bertelsen, Peder Østergaard, Thomas Bøgild-Jakobsen and Kenneth Biirsdahl. Birch Ejendomme is a professional property development and construction company headquartered in Silkeborg. Birch Ejendomme develops, constructs, rents out and manages residential rental properties in growth cities all over Denmark. The company builds approximately 1,800 townhouses and apartments on an annual basis spread over approx. 150,000 m².

Birch Ejendomme contact:
Thomas Bertelsen, Partner and Co-Owner, tbe@birchgm.dk, tel. + 45 3093 5369

About Alma Property Partners
Alma Property Partners is a real estate investment company focused on the Nordic Region. Alma Property Partners manages two opportunistic funds, Alma Property Partners I AB and Alma Property Partners II AB, with a total of approx. EUR 400 million in equity commitments. The company is built on the principles of active ownership and strong alignment with investors and is therefore fully owned by senior team members that work actively within the company. The team has extensive experience and a strong track record in Nordic real estate investment and asset management. Alma Property Partners aims to become the leading Nordic real estate investment company and the partner of choice for institutional investors seeking real estate exposure in the Nordic Region. For more information, please visit almaproperty.se.

Alma Property Partners contact:
Hüseyin Meric, Partner and Head of Denmark, huseyin.meric@almaproperty.dk, tel. + 45 3165 0042