CapMan Real Estate press release
17 February 2022 at 8:30 am EET
CapMan Real Estate sells attractive high-street retail and office property in central Oslo
CapMan Nordic Real Estate II Fund has sold the 4,700 sqm property Lille Grensen 5 located in central Oslo to Arctic Securities for NOK 488 million.
The property was originally acquired by CapMan Real Estate in December 2017. Since acquisition, the fund has signed several leases with new well-known tenants, carried out substantial refurbishment works and transformed the property to a core asset with long stable income.
“Since our acquisition, we have leased out more than 70% of the lettable space to new tenants and re-geared another 15% of the space, which has increased the one year wault at acquisition to more than six years at exit and secured a long-term stable income for the new owner. In addition, we have focused on improving the ESG performance of the property which in 2021 went through a BREEAM In-Use certification,” says Magnus Berglund, Deputy Head of CapMan Real Estate Norway.
CapMan Real Estate currently manages approximately EUR 4.0 billion in real estate assets. The Real Estate Team comprises over 60 real estate professionals in Helsinki, Stockholm, Copenhagen, Oslo and London.
Lille Grensen 5 is the 5th exit from the CapMan Nordic Real Estate II Fund, a 2017 vintage value-add fund, which has 14 assets left in the portfolio. The team is currently investing from its third Nordic value-add fund, CapMan Nordic Real Estate III, which was established in September 2020 and raised EUR 564 million in equity.
For more information, please contact:
Magnus Berglund, Investment Director and Deputy Head of CapMan Real Estate Norway, tel. +46 70 786 68 08
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. Our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 160 people in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.
