Landmark residential-led mixed-use scheme in Copenhagen
occupancy at exit
Project Lake is a landmark residential-led mixed-use complex, situated in central Copenhagen, in the vibrant and trendy neighbourhood of Norrebro.
At the time of purchase in 2013 the building was in a poor physical condition, suffered from low occupancy and weak rents.
InfraRed developed a strategy to turn the premises into a landmark destination offering newly refurbished restaurants, shops, offices and apartments.
Since the acquisition, the buildings have undergone extensive refurbishment totalling approximately EUR20m of capital expenditure. Low-value ground floor apartments were converted into attractive restaurants, coffee shops and bars fronting the lake. A new apartment block was built on a redundant carpark and outdated storage spaces were converted to a contemporary office let to a leading architect bureau.
InfraRed’s management created value by converting existing premises into a fully let, trophy asset in the centre of Copenhagen that was sold in January 2016 to a Danish Institution.
Director at InfraRed Capital Partners