Finnish private equity fund manager CapMan has acquired a residential property in Aarhus, Denmark, for an undisclosed sum.
The vendor of the property was not named, but the deal for the CapMan Nordic Real Estate fund was carried out in partnership with local asset manager Crescendo A/S.
'We are excited about this addition to our already strong residential portfolio in Denmark. We see further potential in the Danish residential market especially in centrally-located properties in areas like Aarhus. We are also happy to work with our strong local partner Crescendo with whom we expect to complete similar deals in the future,' commented Torsten Bjerregaard, managing partner at CapMan Real Estate.
Located at Frederiks Allé 75, in central Aarhus, the property comprises 3,602 m2, across 29 rent-regulated residential units and one retail unit on the ground floor. The deal represents CapMan Nordic Real Estate's 20th investment overall and its 10th in Denmark.
The €273 mln CapMan Nordic Real Estate fund, which focuses on properties in central cities in Denmark, including Copenhagen and Frederiksberg, acquires mainly office, retail and residential properties.
Bech-Bruun advised CapMan on legal matters, while Danske Bank provided the bank financing.
