CapMan Real Estate Press release 29 December 2016 at 10.30 a.m. EET
CapMan Real Estate advises BVK on the acquisition of three residential properties in a growing area in Copenhagen
CapMan Real Estate advises BVK, Germany's largest pension scheme group, on the acquisition of three prime residential properties in Strandholmen, a growing residential area in Copenhagen. The acquisition is the second portfolio transaction completed under CapMan Real Estate's €400 million mandate to invest in residential real estate in the Nordics.
Strandholmen is a former industrial area located four kilometres from the Copenhagen city centre. The area has been redeveloped in to a lively neighbourhood close to recreational areas, public transport connections and services. The three buildings to be developed comprise a total area of 19,523 m2, including 176 apartments and 86 underground parking spaces. Two of the properties are under construction and expected to be completed in July 2018. The third property is conditional on obtaining the planning consent. The properties are developed and sold by CASA A/S. The investment volume once the development is completed is approx. €85 million euros.
"We are very pleased to announce our second investment under the €400 million residential investment mandate awarded by BVK. Copenhagen's residential market is continuing to grow and the rental occupancy rates are high. In addition, Strandholmen has an attractive location making the investment a perfect match for the investment strategy under the mandate." comments Torsten Bjerregaard, Senior Partner at CapMan Real Estate.
In April 2016, CapMan Real Estate advised BVK on the acquisition of an approx. €80 million prime residential portfolio in the Helsinki Metropolitan Area under the investment mandate.
For further information, please contact:
Torsten Bjerregaard, Senior Partner, CapMan Real Estate, tel. +46 (0)8 445 1051
CapMan
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CapMan is a leading Nordic investment and asset management company. 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 Nest Capital - 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. CapMan has 100 professionals and assets under management of €2.8 billion.
Bayerische Versorgungskammer (BVK)
www.versorgungskammer.de
Bayerische Versorgungskammer is the competence and service centre for occupational and communal pension schemes and Germany's largest pension scheme group under public law. It is the joint executive body of twelve liberal professions' and communal pension schemes. BVK covers about 2 million insured persons in total, with contributions of €4 billion and €2.9 billion pension payments annually. It currently has €62 billion assets under management and 1,200 employees.