CapMan Real Estate and CASA joint venture invest in a residential development project in Rødovre
CapMan Real Estate press release
21 June 2021 at 10.00 a.m. EEST
CapMan Real Estate and CASA joint venture invest in a residential development project in Rødovre
A joint venture between CapMan’s value-add real estate fund CapMan Nordic Real Estate III and CASA A/S has acquired a property in Rødovre, which will be transformed into almost 8,000 square meters of housing and parking space. It is the third property acquired for the joint venture established last year.
Located on Egegårdsvej, the property under development will be part of a new residential quarter, which will be in one of the most central locations in Rødovre. With just 500 m. to Rødovre Centrum and a stone's throw from Damhussøen, there is an opportunity for the future residents to enjoy all the best that Rødovre has to offer.
"We are very happy and satisfied with the purchase of this property, which gives us the opportunity to develop an exciting project in Rødovre. I come from the area myself and therefore know the special DNA, which is unique for Rødovre. Therefore, it is great to be able to work with a project and an area that hopefully gives something back to the city, among other things by establishing a new pedestrian street. We are also happy to work together with CASA, which we know stands for delivering good quality, in everything that they do," says Peter Gill, Partner and Head of CapMan Real Estate Denmark.
For CASA, the development of the new residential area in Rødovre is one of several projects carried out by the Danish property developer and total contractor on Copenhagen’s Vestegn.
"We see many opportunities in developing Copenhagen’s surrounding municipalities. Rødovre itself has a lot to offer – good shopping, beautiful nature and a special Rødovre soul – while being close to Copenhagen and everything the city offers. CapMan Real Estate is for us the right partner on such projects, because they manage to see all opportunities due to their professional approach," says Torben Modvig, CEO of CASA A/S.
The upcoming residential project in Rødovre will be just the latest in a series of collaborations between CapMan and CASA. Thus, the investor and the property developer already have a joint venture on the renovation of an office building in Frederiksberg and cooperation in the construction of several hundred homes on Copenhagen’s Vestegn.
CapMan Real Estate currently has over 40 dedicated professionals in investment, asset management and property management. CapMan's current properties under management make up almost €3.6 billion.
Facts:
- Scope: 7,700 m2 / 83 homes + parking garage
- Construction period: Q1 2022 - Q3 2023
- Developer: CapMan Real Estate / CASA A/S
- Architect: PLH Arkitekter
- Engineer: Sweco
- Property developer and general contractor: CASA A/S
For further information, please contact:
Peter Gill, Partner and Head of Denmark, CapMan Real Estate, tel. +45 2043 5563
Ditte Hejberg Sorknæs, Head of Communications, CASA A/S tel. +45 6057 6516
About CapMan
CapMan is a leading Nordic investor with an active approach to value creation. We offer a wide range of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created significant value in these businesses and assets over the last 30 years. Our goal is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialized teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising and analytics advice, reporting and wealth management services. In total, CapMan employs 150 people in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. www.capman.com
About CASA A/S
CASA was founded in 2006 and in a few years has grown to be a nationwide property developer and total contractor with branches in both Horsens and Greater Copenhagen. In 2016, 60% of the company was sold to the Danish private equity fund CataCap. Today, more than 15% of CASA is owned by employees who work dedicatedly every day to developing the company they are part of. With an annual turnover of DKK 2.3 billion and nationwide activities within development, construction and renovation, CASA is now among Denmark's largest property developers and contractors. The company has a green profile with a goal that at least 95% of the buildings will be sustainability certified by 2023. www.casa-as.dk
