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CapMan Real Estate invests in its first EU Taxonomy aligned project by developing two residential apartment buildings in Turku, Finland


CapMan Real Estate press release
26 September 2022 at 12:00 EEST

CapMan Real Estate invests in its first EU Taxonomy aligned project by developing two residential apartment buildings in Turku, Finland

The CapMan Nordic Real Estate III Fund invests in sustainable living by building two LEED Gold -level certified, energy class A, residential apartment buildings in the Pukkila neighbourhood of Turku, Finland, together with Finnish construction company Hartela. This will be CapMan Real Estate’s first EU Taxonomy aligned development project.

The buildings will offer its residents sustainably aligned rental living in the Pukkila neighbourhood of Turku. The construction is set to start in September 2022 with the intended completion of the first building in January 2024. The buildings will house 127 apartments ranging from studios to two-bedroom apartments.

The buildings will be fitted with geothermal heating and solar panels together with energy efficient air ventilation systems and water fixtures. The environmental effects of living have thus been minimized, extra energy is not wasted on heating and the housing footprint is small throughout the building’s lifecycle. The buildings will also use fossil free energy for its heating and electricity.

”We are very happy to be able to carry out a project of such high quality for Turku’s inhabitants. This is the first new-build in the history of CapMan Real Estate that implements EU Taxonomy aligned building practices. Ground source heating and solar panels installed on the roof will reduce the occupants’ carbon footprint while curbing energy costs. The buildings will have several amenities that increase living comfort, such as easy access to Turku city centre, recreation areas in the vicinity and a carsharing for the inhabitants”, shares Sampsa Apajalahti, Investment Director at CapMan Real Estate.

”At Hartela, we have made big investments in to sustainable development. I am happy to be carrying out this project together with CapMan Real Estate as we share similar targets when it comes to minimising the environmental impacts of housing. We strive to reduce energy consumption during occupancy, as energy consumption plays a significant role in life cycle emissions of buildings”, shares Veli-Matti Kankare, Planning Manager at Hartela Länsi-Suomi Oy.

Pukkila area residents will enjoy the excellent location close to Turku city centre, as they can reach the Turku market square by bike or foot in just moments. The Logomo centre of culture and arts, a shopping mall with versatile services as well as an idyllic small residential building area with parks and green areas is also in the vicinity. Once completed the apartment buildings will feature electric car charging stations and a car sharing service for the residents. The inhabitants will also be able to follow their water consumption through and app on their hone, enabling them to directly impact their water bills.

The EUR 564 million CapMan Nordic Real Estate III Fund was established in 2020 and it invests primarily in office, retail, and residential real estate in the Nordic regions.

CapMan Real Estate currently manages approximately EUR 4.5 billion in real estate assets and the Real Estate Team comprises over 60 real estate professionals located in Helsinki, Stockholm, Copenhagen, Oslo and London.

For more information, please contact:

Sampsa Apajalahti, Investment Director, CapMan Real Estate,, +358 40 575 2363

Hanna Kolehmainen, CEO, Hartela Länsi-Suomi Oy,, puh, 040 549 4211

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With over 4.8 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We are dedicated to set science-based targets to reduce our greenhouse gas emissions in line with the Paris Agreement. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We have been listed on the Nasdaq Helsinki since 2001. Read more at

About Hartela

Hartela is a Finnish family-owned company which employs around 550 construction professionals. We have built homes, offices and urban areas since 1942. This year it will be 80 years since the company was founded. Our offices are in Helsinki, Lahti, Turku, Tampere, Rauma and Oulu.