Goldman Sachs | RUBIK Properties

    Goldman Sachs contracts to acquire a portfolio of residential properties by Birch Ejendomme in Denmark

    Goldman Sachs Merchant Banking Division (“Goldman Sachs”) has contracted to acquire seven residential projects together with Rubik Properties from the residential developer Birch Ejendomme. The projects are located in five regional growth cities in Jutland and represent over 70,000 sqm. The properties are spread across more than 900 residential tenancies with average sizes of approximately 75 m2 which will all be DGNB (“German Sustainable Building Council”) certified and expected to be completed during 2022.

    “We are pleased to partner with Rubik Properties and work with Birch Ejendomme to deliver newly built and ESG certified residential apartments at affordable rents, which will benefit the local communities,” says Nabil Aquedim, Executive Director at Goldman Sachs.

    “We are thankful for the trust from Goldman Sachs and feel privileged to commence our partnership with this forward acquisition of a residential portfolio defined by DGNB certified residential projects located in regional growth cities as well as the trustworthy and professional collaboration with Birch Ejendomme is appreciated”, says Jacob Smergel-Krog, CEO of Rubik Properties.

    “At Birch Ejendomme, we are very pleased to expand our circle of professional investors with such a reputable and international investor as Goldman Sachs with this transaction. It is a result of the fantastic journey that we at Birch Ejendomme are on. This supports our ambition to deliver rented, sustainable quality buildings to the housing market in Danish growth cities. We are pleased with the professional collaboration we have had with Goldman Sachs and Rubik Properties on this transaction, and look forward to delivering the seven properties over the coming years,” says Thomas Bertelsen, Partner at Birch Ejendomme.

    Goldman Sachs and Rubik Properties were advised by resp. Brunn & Hjejle, KPMG, NIRAS and Colliers. Birch Properties was advised by Accura.

    About Goldman Sachs Merchant Banking Division

    Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term investing activity. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate.

    [RUBIK Properties – an operating partner for international investors]