Lock

In March 2018, CapMan Nordic Real Estate Fund II (“CMNRE II”) acquired a 63,000 sqm office and industrial property in Eskilstuna from ASSA Abloy, the largest lock manufacturing company in the world. ASSA Abloy signed a short lease on the property with an intention to relocate. The team’s original business plan was to re-lease the property to multiple local and national tenants on cost effective leases.

Eskilstuna is an important industrial city approximately 110 km west of Stockholm with excellent infrastructure and in a strategic location between multiple large cities and the port of Södertälje.

Since 2018, CMNRE II has signed multiple leases on the property, including one with ASSA Abloy for 11,000 sqm, whom the team persuaded to stay in the location with new and upgraded space. Furthermore, lease discussions for in excess of 30,000 sqm are well advanced.