CapMan Real Estate has acquired the Hotel Scandic Webers in Copenhagen for its CapMan Nordic Real Estate IV (CMNRE IV) fund. This acquisition was made in a 50:50 joint venture with the Danish pension company AP Pension. Jeudan, Denmark's largest listed real estate company, acted as the seller. The parties agreed not to disclose the terms of the purchase price.
The transaction represents a significant expansion of the joint venture's hotel portfolio in Copenhagen, following the prior acquisition of the Crowne Plaza Copenhagen Hotel. The Hotel Scandic Webers is a 3- to 4-star establishment comprising 152 rooms across a total area of approximately 7,400 square metres. The hotel's central location, not far from the central station, Tivoli Gardens amusement park, and the Kødbyen district, known for its gastronomy and nightlife, underscores its attractiveness.
Strategic Portfolio Addition and Value Enhancement
Mads Diderichsen, Investment Director at CapMan Real Estate, emphasised that the acquisition of the Hotel Scandic Webers complements the existing portfolio with a high-quality city hotel and acts synergistically with the recently acquired Crowne Plaza Copenhagen. Both properties provide access to different segments of the Copenhagen hotel market. This offers good opportunities for active further development of the properties and long-term value enhancement. The joint venture plans to implement a comprehensive modernisation programme for the Hotel Scandic Webers in collaboration with the operator Scandic. The aim is to consolidate its position in the inner-city hotel market, optimise the guest experience, and secure the long-term competitiveness of the property.
Mikkel Lieberkind, Real Estate Investment Director at AP Pension, highlighted that the acquisition of the Hotel Scandic Webers represents another important step in building a high-quality hotel portfolio in the Danish capital. The prime city-centre location ideally complements the investment in the Crowne Plaza Copenhagen. This allows for an expansion of their presence in a market characterised by strong tourist demand, interest from business travellers, and a limited new-build supply. He sees attractive development opportunities and the creation of long-term value for customers. Per W. Hallgren, CEO of Jeudan, expressed satisfaction with the sale, which demonstrated that a structured process and a long-term perspective can be successfully combined. He stated that they regularly review the strategic fit of properties within their own portfolio and the economic opportunities available. In this case, a mutually beneficial solution was achieved, and the foundation for the property's further development was laid.
Advisory and Regulatory Aspects
The joint venture was advised by a number of consultants during the transaction, including Poul Schmith, Sweco, PwC, Bruun & Hjejle, Accura, EKJ, and Colliers. The sale on behalf of Jeudan was brokered by Cushman & Wakefield | RED. The final completion of the transaction is subject to the approval of the European Commission as part of the merger control procedure between AP Pension and CapMan.
