CapMan Real Estate exits two residential properties in Copenhagen

CapMan Real Estate                        Press release      3 October 2016 at 2:00. p.m. EEST / 1:00 p.m. CEST

CapMan Real Estate exits two residential properties in Copenhagen

CapMan Nordic Real Estate fund has sold two prime residential properties in Copenhagen, comprising 210 apartments over 15,151 square metres, to Akelius Residential Property AB (publ). The purchase price is DKK 321.5 million (€43.2 million).

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 €273 million fund is to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities. The fund was established in 2013.

For further information, please contact:

Torsten Bjerregaard, Senior Partner, CapMan Real Estate, tel. +44 7715 772 554 

CapMan
www.capman.com
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CapMan is a leading Nordic investment and asset management company. For more than 25 years, we have been developing companies and real estate and supporting their sustainable growth. We are committed to understanding the needs of our customers in an ever-changing market environment. Our objective is to provide attractive returns and innovative solutions for our investors and value adding services for professional investment partnerships, growth-oriented companies and tenants. Our independent investment partnerships - Buyout, Real Estate, Russia and Nest Capital - as well as our associated company Norvestia are responsible for investment activities and value creation. CapMan's service business offering includes fundraising advisory services, purchasing activities and fund management services to both internal and external customers. CapMan has 100 professionals and assets under management of €2.8 billion.