CapMan, together with a joint venture partner CASA, has acquired a prominent property on Lindevangs Allé 8-12, Frederiksberg in Copenhagen, Denmark. The transaction marks the start of cooperation between CapMan and CASA focused on transforming and developing outdated properties into modern office space. The asset is located in a part of the City of Copenhagen which will now undergo a major transformation. The purchase price was not disclosed.
The scheme comprises c.5,000m² and will undergo a renovation with a focus on sustainability, where e.g. the façade is retrofitted with insulation for energy optimisation. The new office building will be an integrated part of Frederiksberg and offer an active and inspiring environment where tenants, neighbours, and other residents of Frederiksberg can thrive. Construction is expected to start in early 2021.
“In recent years, we have worked with a number of transformation projects where the starting point has been well-located properties with significant development potential. For years, this property has been used for educational purposes and it is now our plan to convert it to its original use as office space. We see potential in creating an attractive and modern office environment, which further adds to the appeal of the area,” said Hasse Wulff, Investment Director at CapMan Real Estate.
