CapMan to renovate the Turun Centrum building in Turku

CapMan Press Release 4 June 2010 8.00 a.m.

CapMan to renovate the Turun Centrum building in Turku

A project to renovate the Turun Centrum commercial building into modern retail premises will begin in November this year, and the building will be transformed into a dynamic new centre for fashion and leisure in the heart of Turku. The project will be financed through a significant add-on investment by the CapMan RE II fund, which owns the building.

Turun Centrum is located on the corner of Kristiinankatu and Eerikinkatu and it was built in 1969. Turun Centrum has approx. 8,800 m2 of lettable space.

As part of the renovation, the interiors of the floors occupied by retailers and other businesses, the exterior, and the car park will be completely modernised. The project has been contracted to Skanska Talonrakennus Oy, and the plan is to reopen the modernised building in autumn 2011. The top floor of the three-storey building has already been leased to the Elixia gym and wellbeing centre. The current night clubs will continue their operations also during the renovation. Negotiations are under way with fashion retailers, sports and leisure businesses, and restaurants regarding the other lettable space.

"Turun Centrum enjoys an excellent location, and the quality space generated by the renovation project will provide a positive addition to the services on offer in the centre of Turku. We believe that there's good demand for the type of fashion- and leisure-related services that the renovated site will offer shoppers and local residents," says CapMan Real Estate's Project Manager, Juhani Erke.

For further information, please contact:

Juhani Erke, Project Manager, CapMan Real Estate, tel. +358 (0)207 207 601

CapMan is one of the leading alternative asset managers in the Nordic countries and Russia and manages private equity funds with approximately EUR 3.6 billion in total capital. CapMan has six investment areas (CapMan Buyout, CapMan Technology, CapMan Life Science, CapMan Russia, CapMan Public Market and CapMan Real Estate), and each of them has a dedicated team and funds. Altogether CapMan employs approximately 150 people in Helsinki, Stockholm, Copenhagen, Oslo and Moscow. CapMan was established in 1989 and its B shares are listed on the Helsinki Stock Exchange since 2001.

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