CapMan Nordic Real Estate II acquires commercial property in Oslo
CapMan Nordic Real Estate II fund has acquired Lille Grensen 5, a retail and office property located in Oslo city centre from a German fund.
The property is a 4,700 sqm mixed retail and office building located on Lille Grensen, a well-known pedestrianised street in the heart of Oslo city centre which connects with both Karl Johans gate, the premier retail street in Oslo, and Grensen. The retail area is spread across basement, ground and first floors with offices in the 5 floors above. The property has 30% vacancy today and a number of leases are approaching expiry.
“We are very excited about the purchase of this property, which is extremely well located from both a retail and office perspective. With some vacancy and leases coming up for expiry, we see an excellent opportunity to upgrade the premises for existing and potential tenants in order to create extra value,” comments Ed Williams, Managing Partner at CapMan Real Estate.
The acquisition of Lille Grensen 5 is CapMan Nordic Real Estate II’s second acquisition following closing of the Euro 425 million fund raising in August this year. The focus of the fund is to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities.
CapMan Real Estate has a team consisting of over 30 real estate professionals in Helsinki, Stockholm and Copenhagen. CapMan Real Estate was established in 2005 and it currently has over EUR 1.7 billion of assets under management.
For further information, please contact:
Ed Williams, Managing Partner, CapMan Real Estate, tel. +46 76 506 20 71
CapMan is a leading Nordic investment and specialised asset management company. As one of the Nordic private equity pioneers we have actively developed hundreds of companies and real estate and thereby created substantial value in these businesses and assets over the last 28 years. CapMan has today 110 private equity professionals and manages €2.7 billion in assets. We mainly manage the assets of our customers, the investors, but also make direct investments from our own balance sheet in areas without an active fund. Our objective is to provide attractive returns and innovative solutions to investors and value adding services to professional investment partnerships, growth-oriented companies and tenants. Our current investment strategies cover Buyout, Growth Equity, Real Estate, Russia, Credit and Infrastructure. We also have a growing service business that currently includes fundraising advisory, procurement activities and fund management.