CapMan Real Estate Press release
26 August 2019 at 9.00 a.m. EEST
CapMan Nordic Real Estate II leases large industrial space in Eskilstuna, Sweden
CapMan Nordic Real Estate II fund has let approx. 11,000 sqm of mixed warehouse, production and office space in Eskilstuna to ASSAABLOY Opening Solutions Sweden AB, the well-known global lock manufacturing company, on a long-term lease.
CapMan Nordic Real Estate II acquired ASSAABLOY Opening Solutions Sweden AB’s office and industrial facility in Eskilstuna in a sale and leaseback transaction in March 2018 last year, where ASSA agreed to take a 3-year lease of the property. Since then, ASSA has reviewed its long-term strategy and decided to extend its lease on 11,000 sqm for a period of 12 years. As part of the new lease, CapMan Nordic Real Estate II will build a new 1,500 office for ASSA and refurbish the existing warehouse, production and office space.
“We are very excited to sign a long-term agreement with ASSAABLOY, who we think is an ideal tenant for this property given the size and quality of its business and its long history and importance in the local area. Completion of this lease is the first key step in our business plan for the property and we look forward to further enhancing the property with other projects we are currently working on,” comments Per Tängerstad, Partner at CapMan Real Estate.
Wigge & Partners acted for CapMan in the transaction.
CapMan Nordic Real Estate II is a €425 million fund raised in August 2017. The focus of the fund is to acquire mainly office, industrial, retail and residential properties located in established submarkets of major Nordic cities.
CapMan Real Estate has a team consisting of 38 real estate professionals in Helsinki, Stockholm, Copenhagen and Oslo. CapMan’s current real estate volume under management is over EUR 2.5 billion.
For further information, please contact:
Per Tängerstad, Partner, CapMan Real Estate, tel. +46 70 591 23 00
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €3 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London, Moscow and Luxembourg. Please visit www.capman.com for more information.