BVK increases Capman’s Nordic residential mandate to €500m
Bayerische Versorgungskammer (BVK), Germany’s largest pension scheme group, is increasing the investment volume of the fund advised by CapMan Real Estate to €500 million ($590 million). The volume increase follows the recent transactions in Denmark.
Under its broad mandate, CapMan will source and advise transactions as well as manage the assets for the BVK fund in Sweden, Denmark, Finland and Norway. Recently CapMan Real Estate advised the fund on two more acquisitions in Denmark: a newly built, well-performing asset in Copenhagen and a forward purchase project in Aarhus.
“We are very pleased with the third and fourth investments under the BVK mandate. Both Copenhagen’s and Aarhus’ residential markets are attractive due to strong underlying population growth and urbanization,” said Sampsa Apajalahti, investment director at CapMan Real Estate. “The combined volume of the deals was €125 million ($148 million) which takes the committed investment volume of the mandate to €300 million ($355 million). We have a strong pipeline for further acquisitions.”
The fund advised by CapMan is an institutional real estate fund on the platform of Universal-Investment, administered and managed on behalf of BVK.