CapMan Real Estate Press Release 10 April 2017 at 4.15 p.m. EEST
CapMan Real Estate exits retail property Entresse
CapMan Real Estate I fund has sold the Entresse shopping centre in Espoo Centre, Finland, to a fund managed by Barings Real Estate Advisers. The exit is the 2005 vintage fund’s 31st, after which it has four properties remaining in its portfolio.
“We are extremely pleased that we have found a new owner for Entresse. The shopping centre, which has developed into the area’s living room during our ownership, is centrally located in a fast-growing area in Espoo Centre only 300 metres from the busy train station. Entresse includes a wide range of retail stores and services, including a grocery store, a gym and a city library. The operating environment of retail and shopping centres have changed significantly since the acquisition of Entresse in 2007 and as such, we are pleased that the utilisation rate of Entresse has remained reasonably high,” comments Kalle Myllymäki, Partner at CapMan Real Estate.
Entresse has a lettable area of 9,750 m² of which 9,080 m² is retail space and 670 m² is storage and office space. CapMan Real Estate I fund invested in Entresse in 2007 when the property was still in the construction phase. Entresse opened its doors to the public in 2008.
For further information, please contact:
Kalle Myllymäki, Partner, CapMan Real Estate, tel. +358 20 720 7618
Hanna Rauhala, Director, Transactions & Leasing Finland, Barings Real Estate Advisers Europe LLP, tel. +358 400 297 312
CapMan is a leading Nordic investment and specialised asset management company. As one of the Nordic private equity pioneers we have actively developed hundreds of companies and real estate and thereby created substantial value in these businesses and assets over the last 25 years. CapMan has today 100 private equity professionals and manages 2.8 billion in assets. We mainly manage the assets of our customers, the investors, but also make direct investments from our own balance sheet in areas without an active fund. Our objective is to provide attractive returns and innovative solutions to investors and value adding services to professional investment partnerships, growth-oriented companies and tenants. Our current investment strategies cover Buyout, Growth Equity, Real Estate, Russia, Credit, Infrastructure and Tactical Opportunities. We also have a growing service business that currently includes fundraising advisory, procurement activities and fund management.