CapMan Nordic Real Estate fund has acquired a mixed-use property "Kobmagergade 25" in central Copenhagen. The property is ideally located on the high street Kobmagergade, which is a side street to the famous pedestrian shopping street Stroget and close to the Illum department store.
Built in the 19th century and totalling 1,176 m², Kobmagergade 25 comprises six residential units between 111 m² and 139 m², two retail units on the ground floor as well as storage and office space. The area has recently undergone considerable refurbishment to accommodate global high-end retail brands.
"This acquisition is another great example of how we put our value-add approach into action in Copenhagen. The asset is currently 100% leased and as there is considerable room for upgrades in the property, we expect demand for the units to remain extremely high as leases expire. We see additional upside potential from extending the retail space into the courtyard," comments Torsten Bjerregaard, Senior Partner at CapMan Real Estate and responsible for the investment.
The transaction is completed in partnership with Keystone Investment Management, who will be responsible for asset management.
Source: CapMan
