Genesta has sold the prime office property Kalvebod Brygge 32 in central Copenhagen for DKK 1 420 million (€190 million/$211 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 (341,000-square-foot) property was almost fully vacant when acquired by Genesta in February 2018. The property is now fully let with Kammeradvokaten as the main tenant. Under Genesta´s ownership, 25,400 square meters (273,000 square feet) 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 rooftop terrace.
GNRE Fund II’s strategy is to provide institutional investors with access to value-added office property investments in Stockholm, Copenhagen, Helsinki and Oslo. The fund also invests in retail and logistics properties in large metropolitan areas in th
