NREP and CASA Group establish Denmark's largest coperative dwellings association concept

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NREP and CASA Group establish Denmark’s largest coperative dwellings association concept

The property fund Nordic Strategies Fund II managed by the Nordic real estate developer, investor and real estate operator NREP (“NREP”) has joined forces with an investor group primarily related to the CASA Group (“CASA”) concerning a new company, Plushusene, which aims to construct more than 2,000 residential properties in the amount of approx. DKK 3bn.

Plushusene are cooperative dwellings associations in areas with good infrastructure, shopping opportunities, schools and nature close to large cities. The concept is built on sustainability and community for all generations with modern houses and common areas, shared cars and other services.

The construction has begun in the development area NærHeden near Hedehusene, and additional building sites e.g. in Ballerup and Aarhus have already been secured.

Accura has advised NREP in connection with the conclusion of an investment agreement with CASA concerning Plushusene. Moreover, Accura has advised Plushusene in connection with Plushusene’s acquisition of building sites, including the building site in NærHeden. Our advice included due diligence investigations and conclusion of transfer agreements.

Accura advised NREP and Plushusene.