CapMan Real Estate Press Release
July 1, 2021 at 12:00 EET
CapMan Real Estate acquires modern office property in greater Stockholm
CapMan Nordic Real Estate III Fund has acquired a modern office property in Häggvik, north of central Stockholm from Centria.
The 12,000 sqm property developed in 2002 is currently fully leased to three tenants. Once leases expire CapMan plans to lease out the space to multiple tenants and diversify the income risk in the property. In addition, the property will be environmentally certified according to BREEAM In-Use.
Häggvik, situated next to the E4 motorway, is currently under strong development and will be transformed from a retail area into a lively urban district with new commercial space and some 5,000 new apartments to be completed in the next 10 years. The area will further gain attractiveness and accessibility from the development of Stockholm Bypass, the Tram extension and a new commuter train entrance located 200 meters from the property.
“This property is a great addition to our growing third value-add fund. Following the development of the area and improved accessibility, combined with our active management to further modernize and upgrade the office space, the attractiveness of the space will further increase and provide a great establishment opportunity for a wide selection of tenants”, says Magnus Berglund, Investment Director at CapMan Real Estate.
CapMan’s Real Estate team comprises over 40 real estate professionals in Helsinki, Stockholm, Copenhagen and Oslo. CapMan Real Estate currently manages a total of EUR 3.6 billion in real estate assets. The team was awarded UK & European Opportunistic Property Manager of the Year at the 2020 Professional Pensions Investment Awards.
CapMan Nordic Real Estate III Fund, the team’s third Nordic value-add fund, was established in September 2020 and has completed the final close at EUR 564 million, exceeding its target size of EUR 500 million and reaching its hard cap. The acquisition will become the fund’s seventh transaction and the third in Sweden.
For further information, please contact:
Anna Reuterskiöld, Partner, Head of CapMan Real Estate Sweden, tel. +46 731 54 22 31
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.