CapMan Real Estate press release 29 September 2020 at 10:00 am EEST
CapMan’s new value-add real estate fund CMNRE III has acquired a prominent property on Lindevangs Allé 8-12, Frederiksberg in a joint venture with property developer CASA. The transaction marks the start of a cooperation between CapMan and CASA focused on transforming and developing outdated properties into modern office space.
CapMan and CASA have acquired an outworn property in the heart of Frederiksberg, part of the City of Copenhagen, which will now undergo a major transformation. Over the coming years, the property will be renovated and upgraded into modern, dynamic office space.
“In recent years, we have worked with a number of transformation projects where the starting point has been well-located properties with significant development potential. For years, this property has been used for educational purposes and it is now our plan to convert it to its original use as office space. We see potential in creating an attractive and modern office environment, which further adds to the appeal of the area,” says Hasse Wulff, Investment Director at CapMan Real Estate.
From an outdated to an inspiring office environment
The large, almost 5,000 sqm, building will undergo a renovation with a focus on sustainability, where e.g. the façade is retrofitted with insulation for energy optimisation.
Student housing is being developed in the neighbouring property. CASA anticipates that the new tenants in the offices and student housing will further contribute to the development of a dynamic community in an attractive part of Frederiksberg. The new office building will be an integrated part of Frederiksberg and offer an active and inspiring environment where tenants, neighbours, and other residents of Frederiksberg can thrive.
Construction is expected to start in early 2021.
CapMan’s Real Estate team comprises over 40 real estate professionals in Helsinki, Stockholm, Copenhagen and Oslo. CapMan Real Estate currently manages a total of EUR 2.8 billion in real estate assets.
For further information, please contact:
Hasse Wulff, Investment Director, CapMan Real Estate, tel. +45 4013 0433
Ditte Hejberg Sorknæs, Head of Communication, tel. +45 6057 6516
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. Our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.
About CASA A/S
CASA was founded in 2006 and has grown to be one of Denmark’s leading property developer and general contractors. 60% of the company was sold in 2016 to the Danish private equity fund CataCap. More than 15% of CASA is owned by the employees, who are dedicated to developing the company they are a part of. With an annual turnover of 2.5 billion DKK, an average growth rate at 23% and projects all over Denmark within property development, construction and renovation, CASA is now amongst the largest developers and contractors in Denmark. The company has a green profile with an ambition of at least 80% of all new construction being certified sustainable by 2021. www.casa-as.dk
