05/06/2025
CapMan Real Estate has finalised a long-term conversion project of an old logistics centre in Vantaa, Finland. The property is now ready to serve its new purpose for the following decades.
It is not every day that a 100% logistics property is transformed into a temperature and humidity-controlled asset, designed to serve a public sector user. This makes Kiinteistö Oy Mastolan Keskusvarasto (“Mastola”), located in Hakkila, Vantaa, special and unique.
“Over the past 10 years, we have transformed the property into a climate-controlled, modern collection, conservation, research, and storage facility,” says Juhani Erke, Partner and Head of CapMan Real Estate Finland.
The asset was acquired by CapMan Real Estate’s fund Kokoelmakeskus in 2016. Today the property boasts over 40,000 sqm of lettable area mainly used by The Finnish Heritage Agency. The agency has found a home in Mastola for its photographs, clothes, art pieces, even shipwrecks and cabrioles, as well as 50–100 professionals in its approximately 35,000 m² of space. Further, some 1,450 sqm of the main building is in use of the National Audiovisual Institute. The remainder is used for logistics.
The property was originally built in several phases predominantly between the 1980s and 2008. Its transformation into what it is today started in 2015 when its current anchor tenant, Senate Properties, the work environment partner and specialist of the Finnish government, leased a large part of the property for The Finnish Heritage Agency’s needs. In 2018 and 2022 Senate Properties and the heritage agency further expanded their space in the building.
Mastola was originally well-built which has made the all-encompassing renovation easier. As a result of the renovation the property is now also EU Taxonomy aligned.
“For us, Mastola stands out as a sustainable asset from several viewpoints. First, it is EU Taxonomy-aligned with a significantly improved environmental profile, also demonstrated by its BREEAM In-Use certification on level Excellent. Further we have been able to create premises for purposes of significant societal importance avoiding demolishing and building new, and renovating old instead,” notes Erke.
Enhancing environmental performance
CapMan Real Estate invests in transitional projects, and it is typical to research and analyse the assets’ future possibilities as markets and needs change.
“CapMan Real Estate’s sustainability vision is developing human-centric real estate with a net positive environmental impact,” Erke says.
Mastola is a great example of how refurbishment extends the life cycle of a building while enhancing its environmental performance. The main building has undergone four major property-conversions in addition to smaller ones in the last 10 years.
“Sustainability improvements are our strategic choice. We want to create future-proof facilities. The Mastola transition has included the insulation of structures, such as roof and doors, and a complete renewal of the building technology while also enhancing property’s energy self-sufficiency,” explains Santtu Loisa, Director of Property Management at CapMan Real Estate.
At the end of 2024, a 194 kWp solar power system was completed, with an estimated annual production of 155,000 kWh, representing 6–7% of the property´s annual energy use. Mastola’s energy efficiency rating was upgraded to class B in 2024, and the property received a BREEAM In-Use certification at the Excellent level in early 2025.
Strategic cooperation creates a shared understanding
Open dialogue with Senate Properties and The Finnish Heritage Agency throughout the conversion project has helped in creating a shared understanding of Mastola’s future needs. In the beginning of the project, a strategic tripartite cooperation group was created between CapMan Real Estate, Senate Properties, The Finnish Heritage Agency, and the contractor Jatke. The same parties carried out all renovation phases ensuring continuity throughout the years.
Technically the most challenging part of the conversion project has been creating 19 different temperature and humidity conditions in order to care for and conserve the cultural heritage articles, says Loisa.
The Finnish Heritage Agency is responsible for protecting environments with cultural history value, archaeological culture heritage and architectural heritage, and other cultural property. It also collects and presents a culture-historical national collection, studies material cultural heritage, and both supports and develops the museum field nationally.
An international benchmark
Some of the premises will be open to the public and guest groups in the future. Mastola’s renovation has been benchmarked by international guests from the cultural heritage industry.
“Throughout the long conversion project, we have had a very knowledgeable property user as our partner. Together, we have communicated and cooperated openly in order to reach the best possible solutions. All the challenges along the way were and are resolved together,” Loisa comments.
“The long-term cooperation with CapMan Real Estate has been both smooth and productive. One of the most valuable outcomes of the project is the inspiring work community that has formed—made possible by the well-designed spatial solutions and the joint efforts of all users,” remarks Tomi Nikander, Operations Manager and Architect at the Finnish Heritage Agency.