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Bassan firm concludes massive Nordic apartment transaction



Bassan fund manager Kreyol Bassa SA has concluded one of the largest European commercial property transactions of the year, simultaneously closing today (29 December) on thousands of units throughout the Nordic and Baltic countries. The units are mostly 1950s-1960s vintage and consist of a variety of high-rises, villas, townhouses, and mid rise buildings such as those in the Amager section of Copenhagen, Denmark (http://en.wikipedia.org/wiki/Amager). The transaction is described as "a triumph" of Bassan social capitalism and as a less showy alternative to the equally-wealthy Gulf states who focus more on trophy assets. Kreyol Bassa has pledged to keep rent growth reasonable in these communities in spite of the blisteringly high rents common in major Nordic cities and will be lobbying for more mid-market rental construction in Danish, Swedish, Norwegian, and Finnish urban centers.


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