Nordic fund and investment manager Genesta has acquired the Cirkelhuset II residential project in Køge, in greater Copenhagen (Denmark) from CECN, owned by Ejendomsselskabet Casa Nord and CEC Group Holding.
Genesta’s first residential deal was conducted through its GNRE (Genesta Nordic Real Estate) Core Plus Open-ended fund that targets commercial real estate assets in the four Nordic countries.
Genesta’s CEO David Neil said: ‘With Cirkelhuset II we expand our focus from office, retail, and logistics to also include the residential sector. Now we continue to search for new exciting opportunities in Copenhagen and across the Nordics.’
Stefan Björklund, responsible for residential investments at Genesta, added: ‘It is a pleasure to be able to offer totally newly built and super fresh apartments to Køge, which is a growing municipality. The units vary from 48-108 m2 and cater to a wide type of tenants.’
Genesta will take over the 7,100 m2 property with 100 residential units by mid-December once the construction work is completed, while the first tenants will start moving in from October.
Located near the highway and within walking distance of the Køge Nord Station, the building will be equipped with solar panels, electric car chargers and cyclist parking.
Genesta was advised by Bruun & Hjejle, PWC and Ramboll.
