Real Estate

Growing residential market in Copenhagen

Amagerbrogade portfolio

 

CapMan Real Estate acquired the Amagerbrogade portfolio in 2013. The portfolio consists of nine mixed residential and retail properties centrally located on Amagerbrogade, a well-known high street leading to the city centre of Copenhagen. Due to migration and current housing shortage, there is a high demand of residential space in Copenhagen and further value-add potential from un-modernised apartments and mismanaged retail space.

Focus on modernisation and selective new developments

The case team is investing to take care of deferred maintenance and refurbishing vacant residential space to increase rental value. The vacant retail units are leased out and their tenant mix is improved. Furthermore, CapMan Real Estate is planning to build 19 new residential units and new grocery store on Amagerbrogade 82. The case team is also actively participating in the “Ny Amagerbrogade” project by city of Copenhagen. The project’s aim is to develop the area and make Amagerbrogade more attractive environment for citizens, retailers, pedestrians and cyclists.

We will add value by renting the vacant retail spaces and realizing significant rental uplift through renovation of some of the residential space

“The Amagerbrogade properties were built in 1890s and are mixed use with retail on the ground floor and residential apartments above. We will add value by renting the vacant retail spaces and realizing significant rental uplift through renovation of some of the residential space. Our local asset management partner, Keystone Investment Management, has considerable experience in the market and will make a strong contribution to our active asset management,” says Torsten Bjerregaard, Partner of CapMan Nordic Real Estate and responsible for the investment.

Key facts:

Location: Copenhagen, Denmark
Investment period: 2013 -
Type: 106 residential units, 7,221m2 retail/other
Leasable area: 16,512 m2

Investment: 2013