CapMan Nordic Real Estate fund has acquired a residential property located at Frederiks Allé 75 in central Aarhus. The property is only 5-minute walk from the main train station and Bruun's Gallery shopping mall. The purchase price was undisclosed.
Frederiks Allé 75 was built in the 19th century and total 3,602 m². There are 29 rent-regulated residential units and one retail unit on the ground floor. The transaction is done in partnership with local asset manager Crescendo.
"We are excited about this addition to our already strong residential portfolio in Denmark. We see further potential in the Danish residential market especially in centrally-located properties in areas like Aarhus. We are also happy to work with our strong local partner Crescendo with whom we expect to complete similar deals in the future," comments Torsten Bjerregaard, Managing Partner at CapMan Real Estate.
"Frederiks Allé 75 has an excellent location near by the main train station and Bruun's Gallery. In the future, we will continue to renovate and improve the property. We are also very happy to co-operate with the international capital fund CapMan Nordic Real Estate," says Bo Helligsoe, CEO at Crescendo A/S.
Bech-Bruun was the main law firm on the transaction and Danske Bank provided the bank financing.
Frederiks Allé 75 is the CapMan Nordic Real Estate fund's 20th investment overall and its 10th in Denmark. CapMan Nordic Real Estate fund has in the past few years been building a residential portfolio comprising properties in central cities in Denmark including Copenhagen and Frederiksberg. The focus of the €273m fund is to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities. The fund was established in 2013.
