Property fund provided with advice on the creation and the purchase of a turnkey housing project
Holst, provided advice to a professional provider of property funds during the establish-ment of a property fund subject to the AIFM Directive and also with the fund’s purchase of a youth housing project in Copenhagen.
The establishment and management of a property fund is subject to an extensive set of rules under, among others, the Alternative Investment Fund Managers Directive (the AIFMD).
When purchasing a turnkey housing project in Copenhagen, Holst provided advice to a professional pro-vider/manager of property funds; first with the establishment of a property fund, next with the fund’s purchase of about 60 youth residences placed in a property company. Legal services rendered about purchase comprised both due diligence, the conclusion of a transfer agreement, handling of legal issues during the construction phase and final transaction closing.
Thue Hagenau who has in-depth experience with both the special rules pertaining to property funds and transactions on turnkey projects headed the transaction.