CapMan Real Estate press release
29.11.2023 at 10:00 AM EET
CapMan Residential Fund invests in newly built residential property Køhlers Have, in South Harbour area, Copenhagen
CapMan Residential Fund (CMRF) invests in Køhlers Have, a newly built residential property located in the attractive South Harbour area of Copenhagen. The high-quality core residential property holds 384 apartments and two commercial units. The property will be DGNB Gold (new construction) certified. This is the sixth investment for CapMans pan-Nordic core residential fund. The investment is well-aligned with the funds strategy to invest in attractive locations in the major Nordic cities, and in properties with strong sustainability profiles.
The residential property was completed in May 2023 and comprises of 3 buildings, constructed in high-quality materials, and designed in the architectural style of the “old” South Harbour, characterised by its triangular red roof tops. The buildings hold altogether 384 residential units, 2 retail units and 124 underground parking spaces. Each residential unit has a balcony or terrace, and each building has a green courtyard and roof top terrace. All residential units are fully let out. The property will be DGNB Gold (new construction) certified.
The South Harbour area in Copenhagen is an attractive area that has undergone significant developments in the last 20 years. The property is well-situated, with a new metro stop opening just 200 metres from the property in 2024, allowing inhabitants to reach the city centre in just 8 minutes. Amenities such as shops and restaurants are within short walking distance and Fisketorvet Shoppingcenter is just an 8-minute bike ride away. The area holds daycare facilities and elementary schools, and a new elementary school is planned to be built right next to the property.
The asset is acquired from NREP and AG Gruppen for DKK 1.24 billion. This is the fourth Danish investment, and sixth investment overall for CMRF.
“Køhlers Have is our fourth investment in Denmark and a great addition to our core residential fund. It is a good-looking high-quality asset, which has been consciously developed by AG Gruppen and NREP to the benefit of its tenants. Køhlers Have sits in a particularly strong location just 5 km from Copenhagen City Hall Square and next to the new South Harbour metro line, all qualities that will support the long-term performance of the asset”, comments Hasse Wulff, Investment Director at CapMan Real Estate.
“The CapMan Residential Fund invests in attractive locations in major Nordic cities, focusing on properties with strong sustainability profiles. Køhlers Have fits this strategy very well. The open-ended pan-Nordic core residential fund has successfully raised close to €1 billion since 2021 and actively continues fundraising, aiming to reach €2 billion in 2025, while further expanding its portfolio in Denmark and throughout the Nordics”, shares Torsten Bjerregaard, Managing Partner at CapMan Real Estate.
CapMan Real Estate manages approximately €4.2 billion in real estate assets and the Real Estate Team comprises over 70 real estate professionals located in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo and London.
For more information, please contact:
Hasse Wulff, Investment Director, CapMan Real Estate, +45 4013 0433
Torsten Bjerregaard, Managing Partner, CapMan Real Estate, +44 7715 772 554
CapMan is a leading Nordic private asset expert with an active approach to value creation and over €5 billion in assets under management. Our objective is to provide attractive returns and innovative solutions to investors. We have set greenhouse gas reduction targets under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs approximately 190 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com