CapMan Real Estate (CapMan) has sold the “Campus” residential project in Aarhus, Denmark, to the Danish pension fund Lærernes Pension. The property with 209 residential units and 63 parking spaces was completed in 2023 and is fully let. It was part of the portfolio of the “CapMan Nordic Real Estate III (CMNRE III)” fund, for which CapMan acquired the project in 2020 together with the Danish project developer Nordstern. The fund’s strategy focuses on project developments and properties with value-add potential in the major Nordic cities with the aim of selling them to long-term core investors after completion.
The residential project comprises three to six floors and is located in the Katrinebjerg district in the immediate vicinity of Aarhus University. It was designed by AART Architects and blends architecturally into its surroundings. Designed as a closed block, the property is designed with classic red brick and gable roofs and is based on the architecture of the older residential buildings in Aarhus. A green inner courtyard forms the centre of the complex. The building is DGNB Gold certified.
“The Campus residential project is a good example of our fund’s value-add strategy. Together with Nordstern, we have successfully implemented the project from development to full letting. With the Lærernes Pension pension fund, we have now found a long-term owner for the property. Residential real estate in Denmark remains an important investment focus for us and is also attracting keen interest from institutional investors from the DACH region. Aarhus is an attractive growth market alongside the capital region of Copenhagen,” says Hasse Wulff, Head of Transactions Denmark at CapMan Real Estate.
The sale is the fifth successful sale of the “CapMan Nordic Real Estate III” fund. CapMan Real Estate currently manages real estate assets of more than 6.1 billion euros. The team includes more than 80 real estate professionals based in Helsinki, Stockholm, Copenhagen, Oslo and London.
Accura, Ernst & Young and CBRE acted as advisors on the transaction.
