Stockholm-listed investor-owner Akelius Residential Property has made its first acquisition in the Danish capital Copenhagen, which it describes as 'the Berlin of Scandinavia'.
Akelius paid DKK 321 mln (€43 mln) to acquire 216 apartments from Capman Nordic Real Estate fund. The homes are located in three properties built in 1930 and 1884 in Christianshavn, Copenhagen V and Österbro – popular areas in central Copenhagen. One of the properties has been designed by the famous Danish architects C.F. Møller and Kay Fisker. Some of the apartments have already been renovated and Akelius plans to complete the upgrade of all of the homes.
'Copenhagen is the Berlin of Scandinavia. Both cities have an atmosphere which is very appealing. Hopefully we can grow significantly in Copenhagen,' said Akelius CEO Pål Ahlsén.
Akelius owns 50,000 apartments in Sweden, Germany, France, Canada, England and the US. The company's preference shares are listed on Nasdaq First North in Stockholm.
CapMan Nordic Real Estate fund invested in the residential portfolio in 2014 and this transaction is the sixth exit by the fund. The focus of the €273 mln fund is to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities. The fund was established in 2013.
