CapMan Nordic Real Estate II fund adds Cavonius building in Helsinki to its City Pearls portfolio

CapMan Nordic Real Estate II fund adds Cavonius building in Helsinki to its City Pearls portfolio

(PRESS RELEASE) HELSINKI, 15-May-2019 — /EuropaWire/ — CapMan Nordic Real Estate II fund acquires an office and retail property located at Pohjoisesplanadi 21, Helsinki. The Cavonius building is already the fund’s third acquisition to its City Pearls portfolio investing in prime and unique office and retail properties in central Helsinki.

The building is one of the oldest in the Helsinki city centre, constructed in 1820 and Originally designed by Carl Ludvig Engel. Kiseleff & Heikel and Sebastian Gripenberg designed the extensions that were constructed between 1882 and 1883. The building has since been refurbished and modernised. It is located next to the Esplanade park on the premier high street Pohjoisesplanadi known for its numerous restaurants, high-class shops and office premises. The building has four storey and is approx. 2,300 sqm.

Sampsa Apajalahti, Investment Director at CapMan Real Estate, said: ”We are very pleased with the acquisition of this exclusive property. Such properties located in the absolute heart of the Helsinki central business district are rarely available. This unique property is perfectly in line with the investment strategy of CapMan Nordic Real Estate II fund. The property is almost fully let and provides excellent possibilities to further develop it for future business and commercial needs.”

The focus of the fund is to invest mainly in office, retail and residential properties located in established submarkets of major Nordic cities. Pohjoisesplanadi 21 is the thirteenth acquisition of the €425 million Nordic Real Estate II fund raised in 2017. In autumn 2018, the fund acquired two office properties in central Helsinki: Pieni Roobertinkatu 11 and Korkeavuorenkatu 30. The City Pearls portfolio, which is a collection of superior office and retail properties in central Helsinki is comprised of Pieni Roobertinkatu 11 and Korkeavuorenkatu 30 and Pohjoisesplanadi 21.

CapMan Real Estate includes 30 dedicated professionals in the field of investment, asset management and property management. CapMan’s current real estate volume under management is over EUR 2.5 billion.

For further information, please contact:

Sampsa Apajalahti, Investment Director, CapMan Real Estate, tel. +358 40 575 2363

Juhani Erke, Head of CapMan Real Estate Finland, tel. +358 50 549 5104

SOURCE: CapMan