CapMan Fund buys Copenhagen resi assets for €170m

CapMan Residential Fund (CMRF) has announced the acquisition of Køhlers Have, a newly built residential property located in the South Harbour area of Copenhagen, from NREP and AG Gruppen for DKK 1.24 bn (€170 mln).

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 in line with the fund's strategy to invest in attractive locations in the major Nordic cities, and in properties with strong sustainability profiles, the buyer said in a statement.

The residential property was completed in May 2023 and comprises of three 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. All residential units are fully let out.

'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,' commented 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 bn since 2021 and actively continues fundraising, aiming to reach €2 bn in 2025, while further expanding its portfolio in Denmark and throughout the Nordics,' commented Torsten Bjerregaard, managing partner at CapMan Real Estate.

CapMan Real Estate manages €4.2 bn in real estate assets and the Real Estate Team comprises over 70 real estate professionals located in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo and London.

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