Genesta has purchased Cirkelhuset II in Køge, in greater Copenhagen. The seller is CECN, owned by Ejendomsselskabet Casa Nord and CEC Group Holding.
The financial terms were not disclosed.
The acquisition is Genesta’s first residential deal, and it is made on behalf of Genesta´s fifth fund, GNRE Core Plus Open-ended.
“This is an exciting time for Genesta. With Cirkelhuset II, we expand our focus from office, retail and logistics to also include the residential sector, fitting our fund´s strategy perfectly,” said David Neil, Genesta’s CEO.
The 7,100-square-meter (76,400-square-foot) cylinder-shaped property consists of 100 residential units under construction. It is located near the highway and within walking distance of the Køge Nord Station, taking commuters to Copenhagen in 22 minutes by train. The building will be equipped with solar panels, electric car chargers and cyclist parking for the tenants.
Genesta will take over the complet
