Catella Real Estate KAG has acquired a newly refurbished office property with 6,000 m[sup]2[/sup] of leasable space in the Danish capital Copenhagen. The investment volume was DKK 175 mln (EUR 23.5 mln).
Catella Real Estate KAG has acquired a newly refurbished office property with 6,000 m2 of leasable space in the Danish capital Copenhagen. The investment volume was DKK 175 mln (EUR 23.5 mln).
The multi-tenant building is fully let and generates a rental income of EUR 1.3 mln, reflecting a yield of about 5.5%.
The property is located at Rosenborggade 15-17 in Copenhagen’s central business district. It was built in 1890 and 1909 and fully refurbished in 2012.
Catella's German fund manager arm bought the building on behalf of its Catella Scandia Chances fund. The spezialfonds is structured for insurance and pension investors that are regulated under the German Insurance Supervisory Law (VAG).
In October the fund achieved its latest equity closing totalling close to EUR 40 mln, lifting its total commitments to EUR 100 mln.
