CapMan Nordic Real Estate Fund, a 2013-vintage value-add fund, has signed and closed several exits recently. The fund will start distributing carried interest once these exits are completed.
At the end of December, the fund exited Vesterbrogade 80, a 7,955 m2 mixed-use property in central Copenhagen originally acquired in 2015, to COPI. The building has been refurbished under CapMan’s ownership with conversion of the currently unused attic space into apartments expected to be finalised in Q1 2022.
At the end of October, the fund exited a portfolio of 12 centrally in Copenhagen located properties with 186 residential units and a total leasable area of 33,070 m2 after the completion of modernisation and conversion works as well as energy and water usage efficiency improvements.
In December the fund entered into a binding agreement to exit an additional property in Sweden, with the expectation to close the transaction in the coming months. Following the completion of this exit, the CapMan Nordic Real Estate Fund will start distributing carried interest.
Mika Matikainen, managing partner of CapMan Real Estate, said: 'We are very pleased with the performance of our first value-add real estate fund and these latest transactions demonstrate the effectiveness of our approach.
Source: propertyeu.info on the 4th of January