CapMan Social Real Estate Fund acquires Porcelænshaven in Copenhagen
CapMan Social Real Estate (CMSRE) acquires a historical office and educational property, currently fully let to Copenhagen Business School (CBS), and situated in Frederiksberg, Copenhagen, Denmark. This is the second investment for the recently established CMSRE fund which made its first investment in central Helsinki earlier this year. The investment executes on the funds strategy to build a well-diversified portfolio of social real estate properties across the Nordics.
The property is well located in Frederiksberg, right next to the Frederiksberg Gardens and close to central Copenhagen. It consists of 19,300 m2 of lettable office and educational space set in historical buildings originally built in 1882 with later additions. The buildings used to function as a porcelain factory and have since been converted into offices, classrooms, and lecture halls, preserving the original characteristics of the buildings.
The property is fully let out to its’ sole tenant the Copenhagen Business School (CBS) and has been part of the schools’ campus area since 2005. CBS is one of the largest business schools in Europe with more than 22,000 students and 1,500 employees. The asset also includes 325 underground parking spaces, all of which are leased to CBS.
CapMan Real Estate will perform accessibility improvements as well as energy efficiency improvements in alignment with the CRREM energy reduction pathway in the buildings. It also plans to pursue EU taxonomy alignment (climate change mitigation) and DGNB In-Use certification for the asset. The property currently holds energy performance certificate A (2010).
“We are glad to acquire this property which marks the second investment for the CMSRE fund and expands its portfolio in the Nordics. Porcelænshaven is a special property in a unique location and therefore it represents the type of asset we are looking for in this fund. We look forward to developing the asset to support the needs of the students, teachers and personnel at CBS”, shares Peter Gill, Partner and Head of CapMan Real Estate Denmark.
This is the second investment for CMSRE which continues fundraising, targeting EUR 500 million of equity commitments and total investment capacity of nearly EUR 1 billion over the coming years. The recently established fund invests in properties that are used for providing essential public services across multiple sectors. It is looking to build a well-diversified portfolio of social real estate properties across Sweden, Finland, Denmark and Norway.
CMSRE is classified as an Article 8 financial product under the Sustainable Finance Disclosure Regulation (EU). The fund is a German special investment fund. HANSAINVEST Hanseatische Investment-Gesellschaft mbH acts as the alternative investment fund manager (“AIFM) of the fund. CapMan Real Estate acts as advisor for the fund.
The real estate assets managed by CapMan Real Estate currently amount to approximately EUR 4.2 billion. The real estate investment team employs around 80 real estate investment professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo and London.
CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With approx. €5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialized teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London, Luxembourg and Jyväskylä. We are listed on Nasdaq Helsinki since 2001.