CapMan Real Estate Press Release 22 September 2016 at 2.00 p.m. EEST
CapMan Real Estate sells school property in Stockholm ahead of schedule
CapMan Nordic Real Estate fund has agreed to sell The English School property in Älvsjö, Southern Stockholm following its recent conversion of the building from office to school use. The buyer is Fastighets AB Stenvalvet, a Swedish property company owned by pension funds. Stenvalvet owns and develops properties for public use.
CapMan Real Estate originally invested in the vacant 7,930 square-meter office property in August 2015 in order to convert the building into modern school premises for Internationella Engelska Skolan (IES), which signed a long-term lease for the property. The conversion work was finalised as originally scheduled and the school opened its doors in August this year.
“Älvsjö is a fast growing suburb with high demand for services and our school project has generated great interest from both pupils and their families. Investor interest has also been very strong. We are very happy about the smooth collaboration we have enjoyed with IES in Älvsjö and look forward to continuing our excellent relationship on other future projects,” comments Ed Williams, Senior Partner at CapMan Real Estate.
The English School is the fourth exit of the CapMan Nordic Real Estate fund. The focus of the 273 million fund is to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities. The fund was established in 2013.
For further information, please contact:
Ed Williams, Senior Partner, CapMan Real Estate, tel. +46 8 445 1051
CapMan www.capman.com
CapMan is a leading Nordic investment and asset management company active 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 Nest Capital – 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.