31 Oct 2023
We are pleased to announce that Thylander has successfully raised new capital including completing first close for our develop-to-core fund, 'Build for Life'. The fund's mission is to develop rental properties in Greater Copenhagen with a pronounced emphasis on high-quality architecture and an ambitious carbon reduction scheme.
Founder Lars Thylander expresses his satisfaction with first close:
"In the light of the current market environment, we are pleased to have received significant backing for this new fund, which is poised to benefit both our investors and the families that will live in these quality properties in Greater Copenhagen," remarks Lars Thylander.
Jarl Greve, Associate Partner, elaborates:
"Our first close investors comprise, among others, Danish foundations and family offices. We are proud to work with such adept investors and to us their commitments are a testament to our investment approach. Due to the significant interest in the fund, the first close represents a larger share of the fund's equity target than typical first closes. Additionally, we have a robust pipeline of potential investors to reach the hard cap in the final close.”
'Build for Life' is strategically positioned to leverage opportunities arising in the current market conditions. Moreover, it is the ambition that the properties in Build for Life, through architectural and artisanal quality, will positively differentiate from recent years’ generic housing new builds.
"There is a sustained demand for quality rental properties in Greater Copenhagen, both in light of non-sufficient supply over the past decade and in response to projected population trends. With 'Build for Life' we're addressing this demand," says Jarl Greve.
At Thylander, we take pride in our market-leading track record, prioritizing quality initiatives that simultaneously support commercial goals and the burgeoning interest and demand for ESG initiatives.
"Beyond choice of materials and quality architecture, the ambition is to build Build for Life properties with carbon emissions at least 30% below stipulated building regulations. This standard is something we're committed to enhancing progressively over the coming years, without compromising returns," states Jarl Greve.
In addition to 'Build for Life', Thylander has also raised capital for TG Partners VIII, representing the eighth iteration of our successful value-add strategy for prime real estate in Greater Copenhagen.
"Both funds are ideally positioned to capitalize on market conditions in the coming years – spanning prime standing assets in Greater Copenhagen as well as residential building plots. We're positioned precisely where we aspire to be within the mid-market segment – where, in our estimation, the best risk-reward trade-off is to be found within the asset class. We look forward to striving to continue to deliver industry-leading returns to our investors in the coming years," concludes Lars Thylander.