CapMan Press Release – 11 September 2013 at 09.00 a.m. EEST
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CapMan Nordic Real Estate is acquiring a mixed residential & retail portfolio in central Copenhagen
CapMan Nordic Real Estate fund has signed an agreement to acquire a mixed residential & retail portfolio in Copenhagen. The portfolio consists of seven city properties located along Amagerbrogade, a well-known high street leading to the centre of Copenhagen. In total the portfolio comprises 11,101 m2 space, of which 69% is residential and 31% retail. This is the second investment of the CapMan Nordic Real Estate fund.
“The investment is perfectly in line with our value-add investment strategy focusing on Nordic growth centers. The Amagerbrogade properties were built in 1890s and are mixed use with retail on the ground floor and residential apartments above. We will add value by renting the vacant retail spaces and realizing significant rental uplift through renovation of some of the residential space,” says Mika Matikainen, Senior Partner and Head of CapMan Real Estate.
“We are excited about our first investment in Denmark for this fund. Furthermore, we are looking forward to being more active in the Danish market and to making additional acquisitions in the near future. Our local asset management partner, Keystone Investment Management, has considerable experience in the market and will make a strong contribution to our active asset management,” states Torsten Bjerregaard, Partner of CapMan Nordic Real Estate and responsible for the investment.
SEB is providing the bank financing for the transaction.
The CapMan Nordic Real Estate fund completed its first closing in March 2013, providing a current investment capacity of approximately 125 million. The fund made its first investment in December 2012 by acquiring the Silverdal 1 building located in Sollentuna in the Greater Stockholm area. Fundraising for the fund continues, with final closing expected in 2014.
For further information, please contact:
Torsten Bjerregaard, Partner, CapMan Nordic Real Estate, tel. +46 (0)8 445 1052
Mika Matikainen, Senior Partner, Head of CapMan Real Estate, tel. +358 (0)20 720 7616
CapMan Real Estate www.capman.com
CapMan Real Estate manages five real estate funds: the CapMan Nordic Real Estate fund, which invests in office, retail and residential properties located in the Nordic countries, the CapMan Real Estate I fund, which invests in commercial properties in Greater Helsinki, the CapMan RE II fund, which invests in commercial and development projects around Finland, the CapMan Hotels RE fund, which invests in hotel properties, primarily in Finland and a project-specific hotel property fund, CapMan Yrjönkatu 17 Ky, which owns a hotel in central Helsinki. The team includes 19 people in Helsinki, Stockholm and London.
CapMan Real Estate is part of CapMan Group, a leading private equity firm in the Nordic countries and Russia, with assets under management of 3.3 billion. CapMan has five key investment partnerships – CapMan Buyout, CapMan Russia, CapMan Credit, CapMan Public Market and CapMan Real Estate – each of which has its own dedicated investment team and funds. Altogether, CapMan employs 105 people in Helsinki, Stockholm, Oslo, Moscow and Luxembourg.