CapMan Real Estate has expanded Bayerische Versorgungskammer’s (BVK) Danish portfolio with the acquisition of a 37,440 m2 residential project in Kirkebjerg, Brøndby for a price over DKK 1 bn (€130 mln).
The deal, one of the largest residential transactions in Denmark in 2020, was completed on a forward funding basis with developer Casa, which originally purchased the property in December 2019.
The residential project on Søndre Ringvej 27 is part of the new Kirkebjerg area in Brøndby, where Casa is already developing another asset. The complex is situated only a few minutes’ walk from Glostrup station and the new light rail, which will open in 2025. It totals 463 homes across four blocks as well as a parking garage with room for most cars, so space is left for several green areas. The four new blocks will be built according to DGNB Gold standards to enhance the green footprint.
Construction of the property starts in November 2020 with delivery of the turnkey project expected by early 2023.
‘This project provides a nice addition to BVK’s residential real estate portfolio and we are looking forward to continue our good relationship with BVK, Universal Investment and CASA working on this outstanding residential project,’ commented Robert Feldt, investment director at CapMan Real Estate.
‘We are grateful for the cooperation we have with CapMan Real Estate, BVK and Brøndby Municipality on the development of Kirkebjerg. The transformation from grey industry to green residences couldn’t be closer to our hearts in Casa, which makes us even prouder to be developing and constructing this project,’ said Torben Modvig, CEO at Casa.
