CapMan Nordic Real Estate acquires its first property in Oslo

CapMan Nordic Real Estate acquires its first property in Oslo

CapMan Real Estate Press release 30 June 2017 at 1.45 p.m. EEST

CapMan Nordic Real Estate acquires its first property in Oslo

CapMan Nordic Real Estate fund has acquired a mixed use commercial property located at St. Olavs Gate 23 in central Oslo from Aberdeen Property Nordic Fund I

St. Olavs Gate 23 was originally constructed in 1900 and today provides 4,548 square meters of commercial space with retail on the ground floor and office space on the four upper levels. The property is well located, being only 400 meters from the prime retail street, Karl Johans Gate. Nationaltheatret train and metro station, with excellent local connections and a direct train to Oslo Airport, is within a 5-minute walk. In addition, the law faculty of the University of Oslo is currently building a new facility in the immediate vicinity, which will add approximately 4,000 students to the area.

"We are excited about completing our first acquisition in Norway. We have been actively searching the Oslo market for the past 18 months and are delighted to have secured this opportunity which fits our value-add strategy extremely well. We are looking forward to refurbishing the property in the near term and creating a modern high-quality retail and office building in a rapidly developing part of the city," comments Ed Williams, Managing Partner at CapMan Real Estate.

CapMan Real Estate was assisted in its acquisition by CBRE and CLP. Financing was provided by Danske Bank.

St. Olavs Gate 23 is CapMan Nordic Real Estate fund's 21st investment. The focus of the €273 million fund is to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities. The fund was established in 2013.

For further information, please contact:
Ed Williams, Managing Partner, Sweden, CapMan Real Estate, tel. +46 76 506 20 71

CapMan
www.capman.fi
twitter.com/CapManPE

CapMan is a leading Nordic investment and specialised asset management company. As one of the Nordic private equity pioneers we have actively developed hundreds of companies and real estate and thereby created substantial value in these businesses and assets over the last 25 years. CapMan has today 100 private equity professionals and manages €2.8 billion in assets. We mainly manage the assets of our customers, the investors, but also make direct investments from our own balance sheet in areas without an active fund. Our objective is to provide attractive returns and innovative solutions to investors and value adding services to professional investment partnerships, growth-oriented companies and tenants. Our current investment strategies cover Buyout, Growth Equity, Real Estate, Russia, Credit, Infrastructure and Tactical Opportunities. We also have a growing service business that currently includes fundraising advisory, procurement activities and fund management.

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