Latest real estate investments

CapMan's real estate funds have so far 2007 made several investments in real estate properties and development targets, of which the latest are in Malminkaari 9, Lönnrotinkatu 20, Ludviginkatu 3-5, Elimäenkatu 9 and Hankasuontie 3 in Helsinki, Entresse shopping centre in Espoo, Mastola logistics centre in Vantaa, Skanssi shopping centre in Turku and Ylisönmäenkatu 33 in Jyväskylä.

Both CapMan Real Estate fund I investing in commercial properties and CapMan RE II fund investing in real estate development targets have succeeded to find attractive investment targets. According to Markku Hietala, Senior Partner and Head of CapMan Real Estate, the latest investments show that the Real Estate team has succeeded to build an interesting portfolio regardless of the challenging market environment.

“The investments made by the funds in the early summer provide a good picture of the diversity of our activities in real estate markets. The majority of the investments are development projects, but we have also found means to acquire ready yield assets for the funds. The acquisitions raise the investments of both funds to quite a good level considering the fierce competition in the markets,” states Markku Hietala.

New investments were made in Malminkaari 9, Lönnrotinkatu 20, Ludviginkatu 3-5, Elimäenkatu 9 and Hankasuontie 3, all office premises in the Helsinki area, in Mastola logistics centre in Vantaa and in two state-of-the-art shopping centres: Entresse in the City of Espoo and in Skanssi in the City of Turku located in southern Finland. In addition, the funds acquired Ylistönmäenkatu 33, an office property in Jyväskylä.

Skanssi and Entresse shopping centres are both currently under construction. When finalised in winter 2008 and in spring 2009, these two properties together have been estimated to attract nearly 7 million visitors annually. Skanssi is similar in terms of size to the Kamppi Center in downtown Helsinki as the multi-storey retail centre will have a lettable area of roughly 37,000 m² on two floors. Entresse in Espoo will have lettable retail space of ca. 9,500 m² on two floors as well as parking spaces for 300 cars on the ground floor.

Read more about CapMan’s Real Estate operations and the current portfolio.