CapMan Nordic Real Estate has sold KAB’s headquarter building “Grundtvighus” in central Copenhagen to Johan Gedda. The deal takes place a little over two years after the initial investment. The asset comprises a total of 9,787m² of leasable space and is located in central Copenhagen a few hundred meters from Norreport Station, City Hall, Tivoli and the famous “Stroget” retail street. CapMan Real Estate invested in the property in February 2018. The purchase price was not disclosed.
“We originally sought to renovate the building following the end of KAB’s lease but decided to seize this opportunity for an early exit and thereby significantly reduce development risk for the fund. We look forward to seeing Johan Gedda’s plans for this historical building,” said Peter Gill, Investment Director at CapMan Real Estate.