CapMan Real Estate press release
17 January 2022 at 09:00 AM EET
CapMan Nordic Property Income Fund (non-UCITS) acquires a warehouse asset close to Gothenburg further strengthening fund’s exposure to light industrial assets
CapMan Nordic Property Income fund (“CMNPI”) has acquired a warehouse asset consisting of two adjacent properties in Mölnlycke Företagspark, Sweden, east of Gothenburg.
One of the properties is a fully developed warehouse property of approximately 7,000 square metres which was completed in 2018 and the other one is an undeveloped land plot with approximately 4,000 square metres of existing building rights for additional warehouse and office space. CapMan plans to invest in energy saving measures and targets an environmental certification of the warehouse property.
The warehouse building is currently fully let to two tenants. Renew Group, a Swedish company active in the sports industry, is the largest tenant and PDL Center, the leading padel tennis operator in Sweden, leases the remaining space.
The location is excellent from a last-mile logistics point of view as it is near central Gothenburg, Landvetter Airport, Borås and holds easy access to highways towards Malmö and Oslo.
“The attractive location, excellent condition, multi-use configuration and solid tenants make this asset a superb addition to our income-focused fund. The available building rights provide an option for further development,” says Anna Reuterskiöld, Partner and Head of CapMan Real Estate Sweden.
Strong performance of the CapMan Nordic Property Income Fund in 2021
CapMan Nordic Property Income Fund deploys a diversified income-focused strategy both in terms of property types and geography. As of 31 December 2021, the fund was mostly invested in warehouse and office properties in Denmark, Sweden and in Finland. The fund had good performance in 2021 returning c. 11%* over the year.
“Our diversified income-focused strategy combined with our deal-making and sourcing abilities has proved itself very successful, providing excellent risk-adjusted returns throughout the pandemic. With this acquisition we are adding another modern warehouse property into the fund – an asset type that is currently in high demand throughout the Nordics as there is a growing need for high-quality and well-located storage,” comments Sampsa Apajalahti, Fund Director of CMNPI and Investment Director at CapMan.
CapMan Real Estate currently manages approximately EUR 4.0 billion in real estate assets. The Real Estate Team comprises over 60 real estate professionals in Helsinki, Stockholm, Copenhagen, Oslo and London.
CapMan Nordic Property Income Fund is a non-UCITS active open-ended fund that distributes a minimum of 75% of its annual realized profit to its unit holders. The fund focuses on stable income generating properties such as light industrial and warehouse properties, modern offices, necessity-driven retail assets and niche properties in the living sector in most liquid Nordic cities with solid long-term growth fundamentals. The fund accepts new subscriptions on a quarterly basis and targets 7% annual net return.*
*Past performance is no guarantee for future returns.
For more information, please contact:
Anna Reuterskiöld, Partner and Head of CapMan Real Estate Sweden, tel. +46 731 54 22 31
Sampsa Apajalahti, Fund Director of CMNPI and Investment Director at 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. With over €4 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 around 160 people in Helsinki, Stockholm, Copenhagen, Oslo, 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.
