CapMan Nordic Real Estate fund has sold two prime residential properties in Copenhagen, comprising 210 apartments over 15,151m², to Akelius Residential Property AB (publ). The purchase price is €43.2m (DKK 321.5m).
The two properties built in 1930 and 1884 are located in Christianshavn and Österbro -popular areas in central Copenhagen. CapMan has already completed extensive renovations for a significant number of apartments in line with the plan to upgrade the entire residential portfolio.
"We are very pleased with making another successful exit from our Nordic Fund. We have completed the business plan of upgrading these properties and, in addition, we have converted part of the available attic space into additional apartments," comments Torsten Bjerregaard, Senior Partner at CapMan Real Estate.
CapMan Nordic Real Estate fund invested in the residential portfolio in 2014 and the transaction announced today is the sixth exit of the fund. 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.
