Real Estate

Investment approach

CapMan Real Estate is a truly Nordic alternative in the real estate market. We invest mainly in office, retail hotel and residential properties in Finland, Sweden, Denmark and Norway.

1.7B

assets under management

>€1B

equity raised since 2005

>100

real estate transactions

CapMan Real Estate is a truly Nordic investor operating from its local offices in Helsinki, Stockholm and Copenhagen. We execute value-add equity strategies with a focus mainly on mid-cap, transitional office, retail and residential assets in the most liquid submarkets in Sweden, Finland, Denmark and Norway. We utilize best in class operating leverage and deploy a fully integrated platform to maximize NOI.

Adding value to Nordic real estate

Our investment approach is opportunity-driven: our market knowledge and local presence enables us to find the right targets and move fast. We identify suitable assets, improve them and sell stabilized core or near-core assets to institutional buyers.

Despite our opportunistic investment approach, we put a lot weight on defensive characteristics of the assets:

  • Attractive locations with easy access and good visibility
  • In-place income
  • Multi-let conficurations with flexible lay-outs
  • Options for alternative use
  • High technical quality

Besides pure value-add plays, we offer our clients also other select investment strategies such as income focused hotel and residential investments where our local value-add expertise can be utilised to enhance long-term returns.

We follow a targeted bottom-up approach

Our four main investment themes currently:

1. Prime suburban offices

  • High visibility, good access
  • Competitive rental level
  • Modern buildings with flexible layouts; possibility to configure for multi-tenant occupation
  • Attractive yield gap to core
  • Supporting infrastructure

2. Necessity-driven shopping centres

  • Suburbs of capitals and larger cities
  • Growing submarkets
  • Necessity-anchored
  • High visibility
  • Public transportation
  • Flexible space
  • Undermanaged assets

3. Select residential

  • Markets with strong underlying fundamentals
  • Rent-controlled apartments in need of modernisation
  • Distressed owners
  • Selective new developments
  • Office to residential conversions

4. Mega trends: Urbanization/Demographics

  • Demand for efficient urban living
  • New infrastructure creating growing retail, office and leisure hubs
  • Niche “living” sectors becoming mainstream
  • Change of use
  • Relationships with innovative operators of schools, business space, hospitality and corporates