Nordic property fund and investment manager Genesta has acquired a multi-let office property in Copenhagen from Castellum.
Situated in Ørestad City, the office asset Ferring/Neroport comprises 32,704 m2 in rental space. The asset will be transformed to a modern and sustainable property, according to Genesta, after the anchor tenant, Ferring Pharmaceuticals, vacates the property.
Said David Neil, CEO Genesta: 'This building is a perfect addition to our portfolio of strategically located office properties across the Nordics. I'm proud of the team – this is the second transaction in a few weeks.'
With its 80-meter tower, the landmark property is one of the highest buildings in Denmark, even visible from the Øresund bridge. Located between the city centre and Copenhagen Airport, the office property benefits from good infrastructure, including the Ørestad metro station right outside the door.
Added Neil: 'This unique property has great potential. We are excited about creating a property that truly caters to the changing needs of office users.'
Copenhagen is one of the key strategic locations of Genesta’s investment strategy and the ambition is to further strengthen the presence in the region.
'This acquisition is a great example of what we are targeting. We continue to look for interesting investments in the office, logistics, residential and retail segments here in Copenhagen and in our other Nordic focus locations,' said Henrik Bastman, head of transactions, Genesta.
KPMG and Bruun & Hjejle advised Genesta during the acquisition.
GNRE fund III’s strategy is to provide institutional investors with exposure to value-add office property investments in Stockholm, Copenhagen, Helsinki and Oslo. The fund also invests in logistics and retail properties in large metropolitan areas in the Nordic region.
Photo: Genesta Property Nordic
