Real Estate
Human-centric real estate driven by active value creation and environmental ambition
CapMan Real Estate specialises in Nordic real estate investments. We identify opportunities, create value, and aim to deliver attractive returns through disciplined risk management. With a strong Nordic presence, we make real improvement happen by embedding sustainability across our operations. Our human-centric approach ensures a positive contribution to society.
Truly Pan-Nordic
Presence
Local presence and expertise in all Nordic countries, offering a comprehensive regional perspective.
Proven Track
Record
Over 20 years of experience in creating value and aiming to deliver attractive risk-adjusted returns for investors.
Sustainability
Focus
Integration of sustainability considerations across the investment life-cycle.
Nordic Partner
for Global Capital
Positioned as the go-to partner for global investors seeking Nordic real estate exposure.
Our approach
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Our truly Nordic real estate focus
As a Nordic property investor, CapMan Real Estate acquires, improves, develops, and manages properties evenly in major cities across Denmark, Sweden, Finland, and Norway. We enhance the environmental and social aspects of our real estate to create a positive impact on local communities. We execute both value-add and income-focused strategies with the goal of delivering strong risk-adjusted investment returns for our global institutional investors.
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Our local expertise
With teams on the ground across the Nordics, we combine strong local market insight with proactive deal sourcing and active asset management capabilities to identify opportunities and drive long-term value creation. We work closely with tenants, operating partners and local stakeholders throughout the investment lifecycle, focusing on sustainable asset performance, high-quality environments and resilient communities.
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Our sustainability vision
Our sustainability vision is to develop human-centric real estate and strive towards a net positive environmental impact, contributing positively to urban environments and local communities. We aim to generate attractive returns for investors while supporting the green transition in the real estate sector and optimising life-cycle value creation for all stakeholders, from the environment to society.
Three themes underpin our vision: developing human-centric real estate, advancing towards real estate development with a net positive environmental impact, and operating our business through transparent and accountable governance.
+6€
BN GAV under management
+80
real estate professionals
+200
investments to date
5/5
GRESB rating*
*According to the latest GRESB assessment, four out of seven CapMan Real Estate funds and vehicles received a 5-star rating, and three received a 4-star rating in the standing investments benchmark.
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Our investment strategies
Nordic value-add
With our value-add funds, we seek to acquire transitional properties in the most liquid Nordic markets, supported by favourable macro trends, where assets can be significantly improved by active asset management.
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Our investment strategies
Hotels
Stable income from long-term leases with top Nordic and international hotel operators, combining inflation-linked base rents with turnover-based upside and active management and value creation. Focus on growing Nordic travel and business destinations.
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Our investment strategies
Residential
Core residential strategy investing in the largest and fastest growing Nordic cities supported by urbanisation and evolving demographic trends and operational excellence.
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Our investment strategies
Social Real Estate
Investments in Nordic social infrastructure including education, healthcare, and other civic service properties secured by long-term leases to solvent tenants.
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Our investment strategies
Nordic Property Income
Pan-Nordic diversified open-ended real estate fund targeting offices, necessity-driven retail, warehouses, and light industrial assets with resilient income characteristics.
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Case stories
Sørkedalsveien 6 selected for the Nordic Circularity Pilot Program – leading the way in circularity, energy transformation, and nature-based solutions
The Seminaari School renovation project has created long-term positive impact for the community
Iconic building in the centre of Copenhagen – the transformation of Red Warehouse
Our Real Estate funds
| Name | Size | Year | Fund Type | Phase |
|---|---|---|---|---|
| CapMan Social Real Estate | €141m | 2023 | Open ended | Actively investing |
| CapMan Residential Fund | €748m | 2021 | Open ended | Actively investing |
| CapMan Nordic Real Estate III | €564m | 2020 | Closed ended | Exit and value creation |
| CapMan Hotels II | €455m | 2019 | Open ended | Actively investing |
| CapMan Nordic Real Estate II | €425m | 2017 | Closed ended | Exit and value creation |
| CapMan Nordic Property Income Fund (non-UCITS) | €72m | 2017 | Open ended | Actively investing |
| BVK-CapMan Nordic Residential Mandate | Undisclosed | 2016 | Open ended | Actively investing |
| CapMan Nordic Real Estate I | €273m | 2013 | Closed ended | Generating carried interest |
In the table above, size refers to net asset value (NAV) for open-ended funds and committed equity capital for closed-ended funds, as of Q1/2026.
Partners and memberships
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Our investment portfolio
Sustainability themes
Our team
Mika Matikainen
Torsten Bjerregaard
Peter Gill
Latest updates
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CapMan Real Estate divests office building in Västberga, Stockholm
CapMan Real Estate acquires two major residential development projects in Stockholm
CapMan Residential Fund acquires 409-unit rental residential property in Stockholm
CapMan Real Estate acquires the Kristiansand Police Headquarters from Bane NOR Eiendom
CapMan Real Estate and PensionDanmark have entered into co-operation to develop major residential project in Rødovre, Greater Copenhagen
CapMan Real Estate and Scandic complete full refurbishment of historic Hotel Laajavuori
The Seminaari School renovation project has created long-term positive impact for the community
CapMan Real Estate highlights 2025
CapMan Real Estate and Holiday Club sign a 20-year lease agreement for Oulu Eden – the spa hotel to be fully refurbished and reopened in the first half of 2027
