CapMan Real Estate press release
19.3.2024 at 09:00 AM EET
CapMan Nordic Property Income Fund (non-UCITS) sells residential property in Copenhagen
CapMan Nordic Property Income Fund (“CMNPI”) (non-UCITS) sells Søllerødgade 15-19, a well-located modern residential property in Copenhagen.
The property, originally built in 2017, is located in a sought-after part of the Nørrebro area close to central Copenhagen. The fund acquired the property in 2020 and has now decided to exit the property to Danish real estate investor SF FORE.
“Søllerødgade 15-19 is a quality property in a fantastic location in Nørrebro. However, this type of low-yielding core residential property is not fully aligned with the long-term strategy of our Nordic Property Income Fund (CMNPI). Therefore, we decided to test the interest in the market, and are now pleased to exit the asset to SF FORE. Going forward, CMNPI plans to make new investments in stable income generating properties which demonstrate liquidity across cycles and allows for active development of the portfolio. Greater Copenhagen remains our key area for future investments in Denmark,” shares Hasse Wulff, Investment Director at CapMan Real Estate.
“The Søllerødgade exit allowed us to take benefit from the stabilising investment market and the continuously high demand for high quality residential properties. Actualising our returns here while exceeding the funds targets, allows us to continue with our stock picking approach and look for new higher yielding investments,” shares Oskari Isolauri, Junior Fund Director of CMNPI.
The property has received a DGNB-in-Use Gold certification during CapMan Real Estate’s ownership period.
CapMan Nordic Property Income Fund (“CMNPI”) is a non-UCITS active open-ended fund that distributes a minimum of 75% of its annual realised profit to its unit holders. The fund has an established sustainability strategy and it received four stars in its 2023 GRESB* assessment. The fund focuses on stable income generating properties such as light industrial and warehouse properties, modern offices, selected retail assets and niche properties in the living sector in most liquid Nordic cities with solid long-term growth fundamentals. The fund accepts new subscriptions on a quarterly basis and targets 7% annual net return.**
The real estate assets managed by CapMan Real Estate currently amount to approximately EUR 4.2 billion. The real estate investment team employs around 80 real estate investment professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo and London.
* GRESB assesses and compares the ESG performance of real assets globally and has become the go-to benchmark for asset managers and investors when it comes to ESG performance of different funds and companies. GRESB ratings range from one to five stars.
** Past performance is no guarantee for future returns.
For further information, please contact:
Hasse Wulff, Investment Director, CapMan Real Estate, +45 4013 0433
Oskari Isolauri, Junior Fund Director of CMNPI, +358 50 569 1276
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With approx. €5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. An example of this is greenhouse gas reduction targets that we have set 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 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London, Luxembourg and Jyväskylä. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.
