CapMan Nordic Real Estate acquires two residential properties in central Copenhagen (DK)

CapMan Nordic Real Estate fund has signed an agreement to acquire two residential properties in central Copenhagen from Unipension, a partnership of three Danish pension funds, for DKK 188.5 million (approx. €25.25 million). The properties comprise 203 units or 14,427 m² of residential space.
The two buildings, Overgaden Oven Vandet and Herman Triers Plads, are entirely residential and have both been constructed in 1930. The properties share excellent and well-established locations in central Copenhagen. Overgaden Oven Vandet is centrally, but peacefully situated on the harbor in the inner city, whereas Herman Triers Plads benefits from an attractive location, a stone's throw from a popular recreational area.
"We are very excited about our third investment in Denmark. We see many value-add opportunities in these residential properties through modernization, extension and cost management and are hoping to extend the portfolio by adding similar properties," states Torsten Bjerregaard, Senior Partner with the CapMan Nordic Real Estate Fund. "This new investment is a perfect fit to our investment strategy concentrating on Nordic growth centers. We are looking forward to working on the transaction with our local management partner, Keystone Investment Management, and with SEB who provided bank financing for the transaction," states Mika Matikainen, Senior Partner and Head of CapMan Real Estate.
This is the fifth investment of the CapMan Nordic Real Estate fund and the third investment in Denmark. The focus of the fund is on office, retail and residential properties located in established submarkets of major Nordic cities. Fundraising for the fund continues.
Source: CapMan Nordic Real Estate

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