Catella enters into agreement to divest Kaktus Towers in Copenhagen

Kaktus Towers opened for residents in September 2022 and consists of respectively 24 and 21 floors totaling 495 apartments and four commercial spaces on a total area of approximately 26,000 m². The design is based on the 'micro living' concept providing modern living spaces ranging from 33 to 53 m². The residents can enjoy shared facilities including kitchens, collaboration spaces, lounges, and a gym. The concept aims to offer a living experience where residents sleep in their apartments and live within the building. Unlike conventional buildings, Kaktus Towers unique architectural design provides unique views and balconies for each apartment, adding a sculptural element to Copenhagen's skyline with its spiky facades.

"Kaktus Towers is a spectacular project that we are very proud of. The fact that we have now reached an agreement for its divestment at attractive levels for both the seller and the buyer is very positive. It provides us with increased opportunities for new and interesting investments for growth of AUM and recurring revenue, aligning with our strategy and creating value for our shareholders,” said Daniel Gorosch, Interim CEO and President Catella Group.

Kaktus Towers is built in one of Copenhagen's most centrally located development areas and is part of a larger zoning plan at Kalvebod Brygge. The area is being transformed into an innovative district connecting Postbyen, Jernbanebyen and the Central Station, aiming to offer a new green destination while reducing CO² emissions and increasing the well-being in the area by increasing greenery and biodiversity.

“The development of Kaktus Towers showcases our dedication to sustainable investments and ESG principles, as well as our efforts to promote modern housing concepts that benefits society. It also reflects our commitment to creating attractive residential areas that prioritize both individuals and the urban environment. After working on the project from start to finish, it is of course with both immense pride and mixed feelings that we now hand over Kaktus to new owners”, said Morten Gustafson, Managing Director, Catella Investment Management Denmark.

Kaktus Towers began with the purchase of the land in 2016, aiming to provide modern and energy efficient apartments for Copenhagen's growing community of young professionals. The towers offer direct access to Copenhagen’s inner-city amenities, public transport, and bicycle lanes. The project emphasizes ESG qualities and aligns with EU Taxonomy standards and have received DGNB certification from the Green Building Council. In September 2024, Kaktus Towers was awarded Europe's best tall building by an international jury at the CTBUH conference in London.