CapMan Nordic Property Income Fund (CMNPI) (non-UCITS) sells Sollerodgade 15-19, a modern residential property in Copenhagen.
The property, originally built in 2017, is located in a sought-after part of the Norrebro area close to central Copenhagen. The fund acquired the property in 2020 and has now decided to exit the property to Danish real estate investor SF FORE.
“Sollerodgade 15-19 is a quality property in a fantastic location in Norrebro. However, this type of low-yielding core residential property is not fully aligned with the long-term strategy of our Nordic Property Income Fund (CMNPI). Therefore, we decided to test the interest in the market, and are now pleased to exit the asset to SF FORE. Going forward, CMNPI plans to make new investments in stable income-generating properties which demonstrate liquidity across cycles and allow for active development of the portfolio. Greater Copenhagen remains our key area for future investments in Denmark,” shared Hasse Wulff, Investment Director at CapMan Real Estate.
“The Sollerodgade exit allowed us to take benefit from the stabilising investment market and the continuously high demand for high-quality residential properties. Actualising our returns here while exceeding the fund's targets, allows us to continue with our stock picking approach and look for new higher yielding investments,” shared Oskari Isolauri, Junior Fund Director of CMNPI.
The property has received a DGNB-in-Use Gold certification during CapMan Real Estate’s ownership period.
Image source - Pexels.
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