CapMan Press Release 8 December 2015 10 a.m. EET
CapMan Real Estate develops a five-star hotel in Helsinki city centre
CapMan Nordic Real Estate fund acquires Yrjönkatu 13, a landmark building by the Old Church Park in Helsinki city centre. The property will be converted into a 150-room luxury hotel named St. George, operated by Kämp Group. The hotel is due to open in summer 2017.
Yrjönkatu 13 was originally designed for residential use by the architect Onni Tarjanne, who has designed many landmark buildings in Helsinki, including the Finnish National Theatre. The most iconic section of the current 10,200 square metre building was completed in 1890, after which it has been expanded in several phases. The property has been in office use from the 1970s. The existing floor plans are well-suited for hotel conversion and the CapMan Nordic Real Estate fund has already signed a long-term lease agreement with Kämp Group, the leading Finnish luxury and lifestyle hotel operator. The building will be completely renovated and the new St. George hotel will open for public in summer 2017.
The hotel concept will include 150 hotel rooms, an exclusive spa area with a swimming pool, a restaurant, a cocktail bar and a winter garden located in the inner courtyard. The image and interior design of the hotel is made by the Swedish agency Stylt Trampoli, representing visionary, yet timeless design and creative concepts. The agency has received several prices, including two European Hotel Design Awards.
“We are excited to develop this state-of-the-art hotel in such a great location. We have worked together with Kämp Group for over a year to develop the hotel conversion plan. CapMan Real Estate’s strong experience in property development and hotel properties have been a great advantage already in the project planning phase,” says Juhani Erke, Partner at CapMan Real Estate. “We are proud to bring new life to this exceptional building together with Kämp Group,” Erke continues.
“Hotel St. George aims to become Helsinki’s most enchanting luxury hotel. Classical yet modern with surprising style, it complements the range of top hotels in Helsinki, the most famous of which is the group’s flagship hotel, Hotel Kämp. The hotel offers not only first-class service and impressive design, but it’s also perfectly located in the very heart of Helsinki,” says Laura Tarkka, Managing Director of Kämp Group.
The renovation project is due to start in January 2016. The project management consultant is Ramboll CM Oy while Arkval Architech Oy is responsible for the architectural planning.
The renovation work aims for the LEED© Platinum environmental certificate. LEED (Leadership in Energy & Environmental Design) is an international programme that recognises best-in-class building strategies and practices.
Yrjönkatu 13 is the CapMan Nordic Real Estate fund’s 14th investment overall and its third in Finland.
“This investment is perfectly in line with our CapMan Nordic Real Estate fund’s value-add strategy and we are very happy that the whole property has already been leased before the renovation works begin”, says Mika Matikainen, Senior Partner and Head of CapMan Real Estate.
Kämp Group is a portfolio company of the CapMan Buyout X fund, which is managed by CapMan.
For further information, please contact:
Juhani Erke, Partner, CapMan Real Estate, tel. +358 505 495 104
Mika Matikainen, Senior Partner, Head of CapMan Real Estate, tel. +358 207 207 616
Laura Tarkka, Managing Director, Kämp Group Oy, Tel. +358 40 505 2193
CapMan is one of the European leaders in the private equity industry. For more than 25 years, we have been developing companies and real estate and supporting their sustainable growth. We are committed to understanding the needs of our customers in an ever-changing market environment. Our objective is to provide attractive returns and innovative solutions for our investors and value adding services for professional investment partnerships, growth-oriented companies and tenants. Our independent investment partnerships – Buyout, Real Estate, Russia and Credit – as well as our associated company Norvestia are responsible for investment activities and value creation. CapMan’s service business offering includes fundraising advisory services, purchasing activities and fund management services to both internal and external customers. CapMan has 100 private equity professionals and assets under management of 2.8 billion.
Kämp Group www.kampgroup.fi, www.hotelkamp.com, www.glohotels.fi, www.kampspa.fi, www.klauskhotel.com, www.lillaroberts.com, www.hotelhaven.com, hotelfabian.com
Kämp Group is Finnish hotel concern, which consists of Helsinki’s most reputable hotels and restaurants, and Kämp Spa. Kämp Group has approximately 400 employees and its 2015 turnover is approximately 63 million euros. Kämp Group’s most well-known hotel is Hotel Kämp, which was established in 1887. In addition to that also the luxury and design hotel Klaus K, valued Hotel Haven, Hotel Fabian and newest family member opened in August 2015 Hotel Lilla Roberts and the popular lifestyle hotel chain GLO are part of the group. Kämp Group is owned by CapMan managed funds, Berling Capital OY and Rake Oy and Kämp Group’s management.