CMNPI divests residential property in Copenha…
The CapMan Nordic Property Income Fund (CMNPI) has sold a residential property in Copenhagen to Danish real estate investor SF Fore.
Located at Søllerødgade 15-19, the modern building is located in a desirable area of Nørrebro, close to central Copenhagen.
Originally built in 2017, it offers 2,500 m2 of rentable area with a 100% occupancy rate.
CMNPI acquired the property in 2020 and during its ownership, the property achieved a DGNB-in-Use Gold certification.
The core residential property, although stable and well-located, has been put up for sale as it does not meet CMNPI’s long-term goals.
Hasse Wulff, investment director at CapMan Real Estate, said: ‘Going forward, CMNPI plans to make new investments in stable income generating properties which demonstrate liquidity across cycles and allows for active development of the portfolio. Greater Copenhagen remains our key area for future investments in Denmark.’
Oskari Isolauri, junior fund director of CMNPI, added; ‘The Søllerødgade exit allowed us to take benefit from the stabilising investment market and the continuously high demand for high-quality residential properties. Actualising our returns here while exceeding the funds targets, allows us to continue with our stock picking approach and look for new higher yielding investments.’
CMNPI invests in properties (light industrial & warehouse, offices, retail and residential) in Sweden, Finland, Denmark, and Norway and the real estate assets managed by CapMan Real Estate currently amount to €4.2 bn.
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