CapMan Real Estate exits retail property Centrum in Turku

CapMan Real Estate Press release 30 November 2016 at 2:00 p.m. EET

CapMan Real Estate exits retail property Centrum in Turku

CapMan RE II fund has sold a retail property at Kristiinankatu 8 in Turku to Nordea Life Assurance Finland Ltd. The property has 9,280 square metres of lettable space and currently hosts six tenants.

"Centrum is a centrally located, modern retail premise in Turku. We conducted an extensive renovation in 2011 and the property was granted a gold level core and shell LEED certificate during the construction period. During our ownership, we have increased the occupancy rate and the property is fully leased. The diverse tenant base includes, amongst others, both Finnish and international clothing chains, restaurants and a gym. We are pleased that we have found a new long-term owner to the updated property," comments Kalle Myllymäki, Partner at CapMan Real Estate.

CapMan RE II -fund invested in Centrum in 2008.

For further information, please contact:

Kalle Myllymäki, Partner, CapMan Real Estate, tel. +358 20 720 7618

CapMan
www.capman.com
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CapMan is a leading Nordic investment and asset management company. For more than 25 years, we have been developing companies and real estate and supporting their sustainable growth. We are committed to understanding the needs of our customers in an ever-changing market environment. Our objective is to provide attractive returns and innovative solutions for our investors and value adding services for professional investment partnerships, growth-oriented companies and tenants. Our independent investment partnerships - Buyout, Real Estate, Russia and Nest Capital - as well as our associated company Norvestia are responsible for investment activities and value creation. CapMan's service business offering includes fundraising advisory services, purchasing activities and fund management services to both internal and external customers. CapMan has 100 professionals and assets under management of €2.8 billion.

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