CapMan press release 29 June 2012 at 12:45 pm EEST
CapMan sells a commercial property in Turku
The CapMan RE II fund will sell the Stockmann department store property at Yliopistonkatu 22 in Turku to Keva. This is the CapMan RE II fund’s first exit and it will not impact CapMan Group’s result for the current year.
The commercial property located in Turku’s city centre at Yliopistonkatu 22 was built in 1977. It has approx. 12,700m² of lettable space, which is leased by Stockmann Plc. The parties have agreed not to disclose the value of the transaction.
“The exit from Yliopistonkatu 22 progressed smoothly during the spring 2012 and we are satisfied with the return from this investment”, says Kalle Myllymäki, partner at CapMan.
CapMan manages four real estate funds: the CapMan Real Estate I fund, which invests in commercial properties in Greater Helsinki, the CapMan RE II fund, which invests in commercial and development projects around Finland, the CapMan Hotels RE fund, which invests in hotel properties, primarily in Finland and CapMan’s first project-specific hotel property fund, CapMan Yrjönkatu 17 Ky, which owns a hotel in central Helsinki.
Additional information:
Kalle Myllymäki, Partner, CapMan Real Estate, tel. +358 50 356 6940
Erkki Markkola, Real Estate Director, Keva, tel. +358 20 641 2493
CapMan www.capman.com
CapMan Group is one of the leading private equity firms in the Nordic countries and Russia, with assets under management of 3.0 billion. CapMan has four key investment partnerships – CapMan Buyout, CapMan Russia, CapMan Public Market, and CapMan Real Estate – each of which has its own dedicated investment team and funds. Altogether, CapMan employs 120 people in Helsinki, Stockholm, Oslo, Moscow and Luxembourg. CapMan was established in 1989 and has been listed on the Helsinki Stock Exchange since 2001.
Keva www.keva.fi Keva is in charge of handling pension applications, pension decisions, rehabilitation, customer service and the payment of pensions for persons covered by the local government, state, Evangelical Lutheran Church of Finland and Kela pension schemes. We serve 1.3 million insured persons and pension recipients. Keva is responsible for funding the earnings-related pension cover of municipal sector employees. Keva employs 540 people.
