CapMan Real Estate acquires a 50% stake in the leading outlet centre in Denmark

CapMan Real Estate Press Release 13 June 2016 at 11.10 a.m. EEST

CapMan Real Estate acquires a 50% stake in the leading outlet centre in Denmark

The CapMan Nordic Real Estate fund has acquired a 50% stake in the Ringsted Outlet centre and forms a partnership with the Danish real estate company TK Development. Ringsted Outlet is the first and leading outlet centre in Denmark. The aim of the investment is to further develop the centre and its services to correspond to the increasing demand.

"We are delighted to have the opportunity to participate in this retail niche that has truly been on the rise in recent years. The growth prospects for the outlet centre are steady and there are several value creation opportunities through improving occupancy and brand offering, among others," comments Torsten Bjerregaard, Senior Partner at CapMan Real Estate.

"We have previous experience with TK Development working on BROEN Shopping in Esbjerg and we are looking forward to realising the full potential of the Ringsted Outlet with them," Bjerregaard adds.

The Ringsted Outlet, awarded Denmark's best outlet centre in 2015, covers 12,500 square meters and is the only architect-designed outlet city in Denmark following the concept of successful international outlet villages. The centre has a unique location along the E20 motorway in Sealand, a 45-minute drive from Copenhagen, with a direct rail link to Copenhagen city centre.

Ringsted Outlet has 44 Danish and some of the world's largest international brands, including Nike, Hugo Boss, Calving Klein and many more. Currently the outlet is 85% occupied and is expected to be fully let in one year's time. The centre had 1.5 million visitors in 2015 and has experienced double-digit growth in recent years, both in terms of visitors and turnover.

The focus of the €273 million CapMan Nordic Real Estate fund is to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities. The fund was established in 2013 and has made 17 investments of which eight are located in Denmark.

Please find attached photos of the Ringsted Outlet.

For more information, please contact:
Torsten Bjerregaard, Senior Partner, CapMan Real Estate, tel. +44 7715 772 554

CapMan www.capman.com
CapMan is a leading Nordic investment and asset management company. For more than 25 years, we have been developing companies and real estate and supporting their sustainable growth. We are committed to understanding the needs of our customers in an ever-changing market environment. Our objective is to provide attractive returns and innovative solutions for our investors and value adding services for professional investment partnerships, growth-oriented companies and tenants. Our independent investment partnerships - Buyout, Real Estate, Russia and Nest Capital - as well as our associated company Norvestia are responsible for investment activities and value creation. CapMan's service business offering includes fundraising advisory services, purchasing activities and fund management services to both internal and external customers. CapMan has 100 professionals and assets under management of €2.7 billion.

TK Development www.tkdevelopment.dk
TK Development's strategic focus is the development of real property, termed property development, in Denmark, Sweden and Poland. In terms of segments, the company focuses on the development of shopping centres, multifunctional centres, retail parks, and office buildings and corporate headquarters, as well as housing in Denmark and Poland. TK Development is predominantly a knowledge-based service provider and has specialized in being the productive and creative liaison between tenants, investors, contractors and other business partners.

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