A joint venture between Nordic investor CapMan Real Estate and Casa has acquired a property in Rødovre, Denmark, which will be transformed into an almost 8,000 m2 scheme combining housing and parking space.
Financial details were not disclosed.
The deal marks the third property acquired for the joint venture, which was established last year.
Located on Egegårdsvej, the property under development will be part of a new residential quarter in one of the most central locations in Rødovre.
Peter Gill, partner and head of CapMan Real Estate Denmark, said: 'We are very happy and satisfied with the purchase of this property, which gives us the opportunity to develop an exciting project in Rødovre. I come from the area myself and therefore know the special DNA, which is unique for Rødovre.
'Therefore, it is great to be able to work with a project and an area that hopefully gives something back to the city, among other things by establishing a new pedestrian street.
'We are also happy to work together with Casa, which we know stands for delivering good quality, in everything that they do.'
For Casa, the development of the new residential area in Rødovre is one of several projects carried out by the Danish property developer and total contractor on Copenhagen’s Vestegn.
Torben Modvig, CEO of Casa said: 'We see many opportunities in developing Copenhagen’s surrounding municipalities. Rødovre itself has a lot to offer – good shopping, beautiful nature and a special Rødovre soul – while being close to Copenhagen and everything the city offers.
'CapMan Real Estate is for us the right partner on such projects, because they manage to see all opportunities due to their professional approach.'
CapMan and Casa are also currently collaborating on the renovation of an office building in Frederiksberg and cooperation in the construction of several hundred homes on Copenhagen’s Vestegn.
