CapMan Press Release – 31 August 2015 at 9.15 a.m. EEST
CapMan Real Estate acquires a prime mixed-use property in central Copenhagen
CapMan Nordic Real Estate fund has acquired a mixed-use property “Kobmagergade 25” in central Copenhagen. The property is ideally located on the high-street Kobmagergade, which is a side street to the famous pedestrian shopping street Stroget and close to the Illum department store.
Built in the 19th century and totalling 1,176 square metres, Kobmagergade 25 comprises six residential units between 111 and 139 square meters, two retail units on the ground floor as well as storage and office space. The area has recently undergone considerable refurbishment to accommodate global high-end retail brands.
“This acquisition is another great example of how we put our value-add approach into action in Copenhagen. The asset is currently 100% leased and as there is considerable room for upgrades in the property, we expect demand for the units to remain extremely high as leases expire. We see additional upside potential from extending the retail space into the courtyard,” comments Torsten Bjerregaard, Senior Partner at CapMan Real Estate and responsible for the investment.
The transaction is completed in partnership with Keystone Investment Management, who will be responsible for asset management.
Kobmagergade 25 is the CapMan Nordic Real Estate fund’s 13th investment overall and its seventh in Denmark. These include the investment in the development of the shopping centre BROEN in Esbjerg, nine properties on Amagerbrogade in Copenhagen, the development of new apartments in Copenhagen’s Nordhavnen, the office building Finsensvej in Copenhagen’s Flintholm and two prime residential properties and one mixed-use property in central Copenhagen. The focus of the fund, established in 2013, is to acquire office, retail and residential properties located in established submarkets of major Nordic cities. The Nordic Real Estate team opened a branch office in Copenhagen in July.
For further information, please contact:
Torsten Bjerregaard, Senior Partner, CapMan Real Estate, tel. +44 7715 772 554
CapMan is one of the European leaders in the private equity industry. 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 Credit – 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 private equity professionals and assets under management of 3.0 billion.