Stockholm-headquartered real estate investor Niam has acquired a residential development project on the site of a former paper mill in Odense, Denmark’s second city.
The 27,500 sq m project, which will provide 301 apartments, has been acquired from Danish contractor MT Højgaard.
The project is targeting DGNB Gold certification and once completed will be part of a new 45,000 sq m residential area.
Construction is expected to start in September with the final phase due for completion in Q1 2024.
The acquisition further raises Niam’s profile in the Danish residential market and increases its portfolio there to about 1,400 units.