CapMan Press Release – 3 June 2014 at 3.00 p.m. EEST
CapMan Nordic Real Estate is acquiring two residential properties in central Copenhagen
CapMan Nordic Real Estate fund has signed an agreement to acquire two residential properties in central Copenhagen from Unipension, a partnership of three Danish pension funds, for DKK 188.5 million. The properties comprise 203 units or 14,427 m2 of residential space.
The two buildings, Overgaden Oven Vandet and Herman Triers Plads, are entirely residential and have both been constructed in 1930. The properties share excellent and well-established locations in central Copenhagen. Overgaden Oven Vandet is centrally, but peacefully situated on the harbour in the inner city, whereas Herman Triers Plads benefits from an attractive location, a stone’s throw from a popular recreational area.
“We are very excited about our third investment in Denmark. We see many value-add opportunities in these residential properties through modernization, extension and cost management and are hoping to extend the portfolio by adding similar properties,” states Torsten Bjerregaard, Senior Partner with the CapMan Nordic Real Estate Fund.
“This new investment is a perfect fit to our investment strategy concentrating on Nordic growth centres. We are looking forward to working on the transaction with our local management partner, Keystone Investment Management, and with SEB who provided bank financing for the transaction,” states Mika Matikainen, Senior Partner and Head of CapMan Real Estate.
This is the fifth investment of the CapMan Nordic Real Estate fund and the third investment in Denmark. The focus of the fund is on office, retail and residential properties located in established submarkets of major Nordic cities. Fundraising for the fund continues.
For further information, please contact:
Torsten Bjerregaard, Senior Partner, CapMan 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 is in active investment phase and investing in office, retail and residential properties located in the Nordic countries, the CapMan Real Estate I fund, which is focused on commercial properties in Greater Helsinki, the CapMan RE II fund, which is focused on commercial and development projects around Finland, the CapMan Hotels RE fund, which owns 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 comprises over 25 people based 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 3.1 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 approx. 100 people in its offices in Helsinki, Stockholm, Oslo, Moscow and Luxembourg. CapMan was established in 1989 and has been listed on the Helsinki Stock Exchange since 2001.