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CapMan RE II to develop a shopping centre in Hyvinkää

19/09/2007

Press Release 19 September 2007 at 3.00 p.m.
 
CapMan RE II fund has entered into a cooperation agreement with Finesco Invest Oy for the development of a shopping centre in the Hyvinkää town centre. The zoning of the target is currently underway.
 
“The aim of the cooperation agreement is to develop a pleasant shopping environment with a wide range of services in the Hyvinkää town centre. Realprojekti’s and CapMan Real Estate’s special expertise in shopping centres combined with Finesco Invest’s local presence and knowledge create excellent opportunities for this,” states Markku Hietala, Head of CapMan Real Estate.
 
CapMan RE II is the first private equity fund in Finland that has focus on property development targets. Property development comprises the development of property zoning, construction of new projects and functional development of properties. Investments are directed at commercial properties and logistics projects in particular, but the fund may also invest in office premises, industrial properties, hotels, residential projects and public administrative premises. In addition to property development targets the fund may also make selected investments in finished real estate targets.
 
CapMan manages two real estate funds, of which CapMan Real Estate I invests in commercial properties in the Helsinki metropolitan area and CapMan RE II in property development targets in Finland.
 
For further information, please contact:
Markku Hietala, Head of CapMan Real Estate, Managing Director of Realprojekti Ltd, tel. +358 500 405 879
Kari Järvenpää, Managing Director, Finesco Invest Oy, tel. +358 400 490 922
 
 
CapMan  www.capman.com  
CapMan is one of the leading alternative asset managers in the Nordic countries and manages Nordic funds with approximately EUR 3 billion in total capital. CapMan has four investment areas (CapMan Buyout, CapMan Technology, CapMan Life Science and CapMan Real Estate), and each of them has a dedicated team. Altogether CapMan employs around 100 people in Helsinki, Stockholm, Copenhagen and Oslo. CapMan was established in 1989 and its B shares are listed on the Helsinki Stock Exchange since 2001.
CapMan Real Estate
The investment focus of CapMan’s real estate funds is on real estate targets in Finland. The funds’ portfolio consists for example of commercial properties, logistics centres and warehouse premises as well as property development targets such as Skanssi shopping centre in Turku (currently under construction). The CapMan Real Estate team comprising of 30 professionals is responsible for the funds’ investment activities and also practises real estate consulting under the Realprojekti brand. The real estate funds have invested in 36 real estate assets and exited from 22.
 
Finesco Invest Oy
Finesco Invest Oy, founded in 1994, is a family-owned business that specialises in property development, leasing and management consulting. The company is located in Hyvinkää, Finland.