Prime office property in Copenhagen sold for €190m

Prime office property in Copenhagen sold for €190m
Kalvebod Brygge 32 Photo: Courtesy of Genesta

Genesta has sold Kalvebod Brygge 32, a prime office property in central Copenhagen for €190 million (DKK 1,420 million) on behalf of Genesta Nordic Real Estate Fund II (GNRE Fund II) to the Swedish listed real estate company Klövern.

The 31,700 square meter property was almost fully vacant when acquired by Genesta in February 2018. Under Genesta´s ownership, 25,400 square meters have been let and the property is now being refurbished to meet the new tenants’ demands. When completed, the building will include modern and unique premises, a new façade and a roof top terrace.

The prime office property in Copenhagen is now fully let with Kammeradvokaten as the main tenant.

”The unique characteristics and the central location of Kalvebod Brygge 32 suits our funds’ investment strategy perfectly. This project showcases why the Copenhagen office market is, and will continue to be, a key market for our funds,” said David Neil, Genesta CEO.

The tenants are expected to move into their newly refurbishment premises in April 2021. Genesta was advised by Revco, Gorrisen Federspiel and Colliers.

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