2021-12-14 9:04 CET, Europe, Denmark, Germany | Investment Management | Press release
Berlin-based Catella Residential Investment Management (CRIM) has acquired a 225-apartment student residence in Copenhagen, named “Støberiet”, for c. €60 million on behalf of a German pension fund from Teglholm Park P/S. This latest acquisition increases the assets under management to almost €1 billion for this mandate.
The five-storey property is located at Støberigade 8-10 in the thriving harbourfront area of Sydhavn (south harbour) on Copenhagen’s Teglholmen peninsula. It comprises 225 one- and two-bedroom apartments, a small communal courtyard, laundry and storage facilities, and a retail unit let to a well-known supermarket.
Benjamin Rüther, Head of Fund Management, CRIM commented: “The property, a former industrial building dating from the 1920s, ticks many of our investment criteria boxes. It was redeveloped in 2015 and has been designed and constructed to high energy standards with a Danish A2010 energy label. On the one hand redevelopments like this one meet our high environmental sustainability standards, on the other they fit perfectly into our antifragility strategy. Furthermore, Teglholmen is rapidly developing into one of Copenhagen’s prime residential locations and holds plenty of upside potential as urban regeneration of this area continues.”
The apartments range in size from 34 to 93 sqm, with an average of approx. 41 sqm, each with a small, well-equipped kitchen and bathroom. All units have access to either spacious, west-facing private balconies or terraces with the units on the upper floors also benefitting from east-facing French windows. The asset is connected to a central district heating system and uses heat exchangers for heating and warm water. A wide range of shopping facilities, cafes and restaurants are located nearby.
Historically a dockland area, Teglholmen has recently re-emerged as a thriving residential location following a massive redevelopment programme aimed at creating new residential districts in this part of Copenhagen. It is home to a cluster of IT and telecommunication companies while Aalborg University houses a campus in the former Danish Nokia headquarters. The peninsula is connected to Copenhagen’s city centre by bus, water taxi, rail and road and its accessibility will be improved further after the extension to the M4 metro is completed. The ‘Enghave Brygge’ station will be located just 500 metres from the property when it opens in three years’ time.
Thylander advised Catella on the acquisition.
Henrik Køhn, Director, Partner, Investment and Asset Management, Thylander added: “We are very pleased to have completed yet another transaction with CRIM and to further strengthen our 10-year partnership. We see great potential in the Sydhavn location in Copenhagen, especially in light of the new metro stations which will make the area even more accessible and attractive for students, families and businesses.”
Denmark’s capital Copenhagen has a population of nearly 640,000 inhabitants which is forecast to grow by 19% by 2045. The city has approximately 115,000 students thanks to the presence of the University of Copenhagen, Denmark’s oldest university, the Technical University of Denmark, Copenhagen Business School, the Aalborg University and the IT University of Copenhagen.
About Catella Residential Investment Management GmbH (CRIM)
Catella launched its first European residential fund in 2007 with a volume of €1.6 billion and it has since achieved an average net return for investors of more than 9.0% per year until the end of Q3 2021. The team also launched the first dedicated European Student Housing Fund in 2013.
CRIM is a subsidiary of the Stockholm-based Catella AB Group and its residential real estate business comprises portfolio management, acquisitions, sales and asset management. CRIM manages and advises several Residential funds and mandates and has assets under management close to €6.0 billion across 10 European countries.
For further information:
Steve Hays / Emma Villiers
Bellier Financial
T: +31 (0) 20 419 09 01
About Thylander
For more than 30 years, Thylander’s core competence has been to establish and manage Real Estate funds in partnership with institutional investors, funds and wealthy individuals. Thylander is partner-owned and independent and its 30+ employees manage the real estate investments, including identification, purchasing, financing, operations and management with a special focus on development and value optimization towards a sale at the end of the holding period.
Thylander currently manages 11 Real Estate funds and Real Estate consortia, which include both commercial and residential properties as well as development projects. The total portfolio managed – depending on acquisitions, divestments and the establishment of new funds – currently amounts to approximately DKK 10 billion (€ 1.34 billion) and comprises a total floor area of approximately 600,000 sqm.
For further information:
Henrik Køhn
Director, Partner, Investment and Asset Management, Thylander
+45 2889 1661
