CapMan Real Estate exits office building located north of Helsinki CBD to Castellum

December 14, 2020

CapMan Real Estate press release 14 December 2020 at 9.30 a.m. EET

CapMan Real Estate exits office building located north of Helsinki CBD to Castellum

CapMan Nordic Real Estate Fund has agreed to sell Hämeentie 15, an office building located in the Sörnäinen district of Helsinki, to listed Swedish real estate company Castellum. The purchase price amounts to approximately EUR 23 million.

CapMan acquired the building in 2016. During its ownership, CapMan has completed an extensive refurbishment of the property and transformed it to fit with the neighbourhood’s profile. The previously outdated office layout has been modernised to flexible open-office space to accommodate the quality-conscious tenant base. The majority of the 7,880 sqm leasable area has been re-leased during CapMan’s ownership.

Hämeentie 15 was built in 1956 with an extension in 1990. The historic property is strategically located just north of Helsinki CBD where the post-industrial environment and creative atmosphere meets the demand for accessible and increasingly central offices and business premises. Hämeentie has undergone significant re-development during recent years to accommodate for public and light transport and to increase the attractiveness of the area.

“We have completed significant updates to Hämeentie 15 during our four years of ownership and are very pleased with the transformation that this property has undergone. During our ownership we have brought in high-quality tenants, updated the tenant mix completely and increased the net operating income significantly. Now is the perfect timing for a new owner to take over,” says Sampsa Apajalahti, Investment Director at CapMan Real Estate.

Hämeentie 15 is the 14th exit of the 2013 vintage value-add fund, which has nine assets left in the portfolio. The team’s third Nordic value-add fund, CapMan Nordic Real Estate III, was established in September 2020 and has raised EUR 449 million to date with a target size of EUR 500 million.

CapMan Real Estate currently manages a total of EUR 2.8 billion in real estate assets. The CapMan’s Real Estate team comprises over 40 real estate professionals in Helsinki, Stockholm, Copenhagen and Oslo. The team was awarded UK & European Opportunistic Property Manager of the Year at the 2020 Professional Pensions Investment Awards.

For further information, please contact:
Sampsa Apajalahti, Investment Director, CapMan Real Estate, tel. +358 40 575 2363

About CapMan

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. 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, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.