Genesta has on behalf of Genesta Nordic Real Estate Fund II (GNRE Fund II) acquired the 30,000 m2 office building Kalvebod brygge 32 from DSB (the Danish State Railways).
The property is located in the business district close to Copenhagen central station and the City Ring. The area is characterized by prime office space, brand hotels and retail. Genesta will during their ownership undertake an extensive refurbishment of the property.
“It is a unique property with a lot of potential”, comments, David C. Neil, CEO of Genesta. “The building has all the features we are looking for and suits us perfectly. During our ownership Kalvebod Brygge 32 will be development into a high-end office building appropriate for its prime location. We believe this office submarket will play a key role in Copenhagen going forward and are excited about creating a product for tenants seeking high quality office space in a great location.”
GNRE Fund II
This is the eighth acquisition on behalf of GNRE Fund II. The fund’s strategy is to provide institutional investors with exposure to value add office property investments in Stockholm, Copenhagen, Helsinki and Oslo. The fund also invests in retail and logistics properties in large metropolitan areas in the Nordic region.