Catella sells Kaktus Towers in Copenhagen to Quantum

Catella has signed an agreement to sell Kaktus Towers in central Copenhagen to Quantum Immobilien, which has acquired the asset on behalf of an institutional investor.

The transaction is based on an underlying property value of SEK 2.1 billion (€200 million) and is expected to contribute with nearly SEK 260 million to Catella shareholder’s EBIT in 2025 after transaction costs. The transaction is expected to be completed during the second quarter of 2025.

“Kaktus Towers is a spectacular project that we are very proud of”, said Daniel Gorosch, Interim CEO & President, Catella Group. “The fact that we have now reached an agreement for its divestment at attractive levels for both the seller and the buyer is very positive. It provides us with increased opportunities for new and interesting investments for growth of AUM and recurring revenue, aligning with our strategy and creating value for our shareholders.”

Kaktus Towers opened for residents in September 2022 and consists of respectively 24 and 21 floors totaling 495 apartments and four commercial spaces on a total area of approximately 26,000 sq m. The design is based on the ‘micro living’ concept providing modern living spaces ranging from 33 to 53 sq m.

Residents can access shared facilities including kitchens, collaboration spaces, lounges, and a gym. The concept aims to offer a living experience where residents sleep in their apartments and live within the building.

Unlike conventional buildings, Kaktus Towers’ unique architectural design provides unique views and balconies for each apartment, adding a sculptural element to Copenhagen’s skyline with its spiky facades.

Kaktus Towers is built in one of Copenhagen’s most centrally located development areas and is part of a larger zoning plan at Kalvebod Brygge. The area is being transformed into an innovative district connecting Postbyen, Jernbanebyen and the Central Station, aiming to offer a new green destination while reducing CO2 emissions and increasing the well-being in the area by increasing greenery and biodiversity.

Last year Kaktus Towers was awarded the Europe’s best tall building prize by an international jury by the Council of Tall Buildings and Urban Habitat.

“The development of Kaktus Towers showcases our dedication to sustainable investments and ESG principles, as well as our efforts to promote modern housing concepts that benefits society”, said Morten Gustafson, Managing Director, Catella Investment Management Denmark. “It also reflects our commitment to creating attractive residential areas that prioritize both individuals and the urban environment.”