CapMan Real Estate advises BVK, Germany's largest pension scheme group, on the acquisition of three prime residential properties in Strandholmen, a growing residential area in Copenhagen. The acquisition is the second portfolio transaction completed under CapMan Real Estate's €400m mandate to invest in residential real estate in the Nordics.
Strandholmen is a former industrial area located four kilometres from the Copenhagen city centre. The area has been redeveloped in to a lively neighbourhood close to recreational areas, public transport connections and services. The three buildings to be developed comprise a total area of 19,523m2, including 176 apartments and 86 underground parking spaces. Two of the properties are under construction and expected to be completed in July 2018. The third property is conditional on obtaining the planning consent. The properties are developed and sold by CASA A/S. The investment volume once the development is completed is approx. €85m.
"We are very pleased to announce our second investment under the €400m residential investment mandate awarded by BVK. Copenhagen's residential market is continuing to grow and the rental occupancy rates are high. In addition, Strandholmen has an attractive location making the investment a perfect match for the investment strategy under the mandate." comments Torsten Bjerregaard, Senior Partner at CapMan Real Estate.
In April 2016, CapMan Real Estate advised BVK on the acquisition of an approximately €80m prime residential portfolio in the Helsinki Metropolitan Area under the investment mandate.
