CapMan sells residential asset in Aarhus

CapMan Nordic Real Estate III Fund (CMNRE III) has signed a sale and purchase agreement for the disposal of Campus, a fully stabilised residential property in Aarhus, to Danish pension fund Lærernes Pension. 

Campus

The asset, comprising 209 apartments, was developed in a joint venture with Nordstern.

The exit follows the successful completion and full lease‑up of the scheme and aligns with CMNRE III’s value‑add strategy of creating institutional‑grade assets through development and active management in major Nordic cities before realising them to long‑term core capital. The property is DGNB Gold‑certified.

Located in the Katrinebjerg district immediately adjacent to Aarhus University, Campus was completed in 2023 and includes 209 residential units and 63 parking spaces. CMNRE III acquired the project in 2020 alongside Nordstern and has taken it through development, construction and lease‑up to a fully stabilised position, with all units now let.
Designed by AART Architects, the scheme was intentionally shaped to complement its surroundings. Built as a perimeter block in classic red brick with pitched roofs ranging from three to six storeys, the architecture reflects the character of Aarhus’ older apartment buildings and encloses a landscaped courtyard.

Hasse Wulff, Head of Transactions Denmark at CapMan Real Estate, said Campus exemplifies the type of opportunity CMNRE III targets. He noted that the fund, together with Nordstern, has delivered a fully let, institutional‑quality residential asset and is pleased to hand it over to a long‑term owner. He added that residential remains a core conviction for CapMan in Denmark, with Aarhus continuing to show strong growth fundamentals alongside Greater Copenhagen.

The transaction marks the fifth successful exit for CMNRE III. CapMan Real Estate now manages more than €6.1 billion in real estate assets, supported by a team of over 80 professionals across Helsinki, Stockholm, Copenhagen, Oslo and London.

Accura, EY and CBRE advised on the sale.