Niam Acquires Marmormolen Residential Complex in Copenhagen's Nordhavn, Taps Rubik Properties for Asset Management

Niam has acquired Marmormolen, a six-building residential and mixed-use complex in Copenhagen's Nordhavn district, from CBRE Investment Management, the firm announced. Rubik Properties will serve as asset manager for the property during Niam's ownership period, with Jacob Smergel-Krog, CEO and Founding Partner at Rubik Properties, leading that effort.

Property Details and Transaction Structure

Built in 2016, Marmormolen comprises six buildings containing 128 apartments and four commercial leases, totaling 13,969 square meters — approximately 150,362 square feet. The apartments range from 76 to 150 square meters and offer two to four rooms, with large windows and water views. The acquisition represents the second Danish investment by Niam's Fund IX and forms part of the firm's Danish residential platform, Bellavia.

The transaction was carried out in collaboration with Rubik Properties, which will also assist with active management throughout Niam Real Estate's ownership period.

Executive Commentary

Rikard Henriksson, Head of Real Estate at Niam Group, described the Danish residential segment as a priority for the firm. "Danish residential properties are a key focus area for us, and Marmormolen is a good example of the type of property we want to own: well-managed, well-located and with long-term value," Henriksson said.

Jacob de Lichtenberg, Country Manager Denmark at Niam Group, emphasized the scarcity of comparable assets in the market. "Marmormolen is one of the most attractive residential properties in Copenhagen, and this type of property rarely comes onto the market. We are very pleased with the acquisition, which fits perfectly with our strategy of owning quality homes that we can continue to develop," de Lichtenberg said.

Jacob Smergel-Krog welcomed the mandate on behalf of Rubik Properties. "We appreciate the trust Niam has placed in us and look forward to taking on the asset management responsibility for the residential properties at Marmormolen. We look forward to actively contributing to the continued development and value creation of the property," Smergel-Krog said.

Strategic Rationale and Market Context

The Marmormolen acquisition serves as a building block for Bellavia, Niam's Danish residential platform. The asset's 2016 construction date reduces near-term capital expenditure risk relative to older Copenhagen housing stock, while its waterfront positioning in Nordhavn supports tenant demand for professionally managed rental housing.

Nordhavn is one of Copenhagen's major waterfront redevelopment areas, benefiting from proximity to central Copenhagen, established employment districts, waterfront amenities and Metro connectivity. Prime annual multifamily rents in Copenhagen stood at approximately DKK 2,625 per square meter, and prime multifamily yields were reported at roughly 3.50% at the end of the second quarter of 2026. Statistics Denmark reported annual rent growth of 2.7% in the second quarter of 2026, with Copenhagen broadly seeing approximately 3% year-over-year rent growth, with waterfront districts such as Nordhavn commanding a premium.

Rubik Properties' involvement gives Niam a local partner for leasing, operations and value-enhancement initiatives, consistent with the firm's stated approach of owning assets it can continue to develop operationally.

About Niam

Niam Group is a private markets firm in the Nordics focused on real estate, infrastructure and credit. Founded in 1998, the firm has raised more than €7.5 billion in capital since inception and holds approximately €5.4 billion in assets under management across 11 active funds. Niam is headquartered in Stockholm with offices in Oslo, Copenhagen, Helsinki, Luxembourg, London and Zurich.