Tag Archives: Real estate

Partners Group acquires portfolio of UK industrial properties for GBP 253 million

Partners Group

Partners Group, the global private markets investment manager, has acquired a portfolio of 27 light industrial properties in the UK with a total lettable area of approximately 3.6 million square feet, on behalf of its clients. The portfolio was acquired from specialist real estate investor Paloma Capital for GBP 253 million. Partners Group intends to scale the portfolio with an additional GBP 200 million of equity to fund new acquisitions of UK light industrial assets over the next twenty-four months.

The portfolio is spread across the UK, with most properties in the West Midlands, Yorkshire and the North West. The properties are well positioned to benefit from the structural tailwinds driving the growth of ecommerce, which has further accelerated following the outbreak of COVID-19. The portfolio has a diversified income stream with a tenant base of over 250 companies from a range of sectors, including logistics, engineering, distribution, trade and manufacturing. Paloma Capital participated in the acquisition as a co-investor and will remain the operating partner to the portfolio.

Partners Group plans various value creation initiatives for the current portfolio, including increasing occupancy, refurbishing units to upgrade and modernize facilities so they better suit tenant requirements, improving site accessibility and enhancing energy efficiency.

Rahul Ghai, Managing Director, Co-Head Private Real Estate Europe, Partners Group, states: “The UK light industrial sector is seeing high levels of demand due to the rise of ecommerce, a key transformative trend we have been following, yet shrinking supply, which is being caused by competition for land from other real estate segments such as residential. Although the Brexit transition has caused some uncertainties, we don’t expect them to have a significant and lasting impact on the structural tailwinds supporting the sector.”

Keeran Kang, Member of Management, Private Real Estate Europe, Partners Group, adds: “This portfolio of assets is diversified in terms of location, tenant base, asset size and offering, making it an attractive investment opportunity. The light industrial sector is one of Partners Group’s top relative value propositions within real estate and this portfolio provides a great opportunity to increase our exposure to it. We are looking forward to making add-on acquisitions to the portfolio over the next two years.”

Partners Group was advised by Clifford Chance and Deloitte.

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Partners Group makes its first direct real estate acquisition in Japan for five years with a 24,000 sqm Grade A office property

Partners Group

Partners Group, the global private markets investment manager, has acquired a Grade A office property 25 kilometers west of central Tokyo, Japan, in Tama New Town, on behalf of its clients. The property has a net leasable area of 24,000 square meters and is currently 100% occupied. The investment is Partners Group’s first direct real estate acquisition in Japan for five years.

The eight-story Tama Center, built in 2002 and designed by renowned architect Kengo Kuma, is stabilized and cash generating, and is currently occupied by blue-chip Japanese companies. The asset is located near main transportation links to central Tokyo via road and rail, with the city’s central business district (CBD) accessible within 50 minutes. The investment will benefit from the limited supply of new office space coming to market in the area for the next five years, and a minimum weighted average unexpired lease term of three years, providing downside protection in the short term against the potential impact of COVID-19.

Partners Group will work with its local operating partner, Cypress Investment Management Co. Ltd., to execute a transformative business plan for the asset which includes increasing the net leasable area of the property by taking advantage of the building’s underutilized floor area ratio. Other value creation initiatives involve renovating the property, executing the lease renewals of key tenants and reducing energy consumption.

Rahul Ghai, Managing Director, Private Real Estate Asia, Partners Group, states: “The Tama Center is in an attractive location with good public transport and has high-quality tenants operating in defensive sectors. The asset’s Grade A office specifications and affordability compared to office space in central Tokyo, where rents are up to three times higher, should keep attracting corporate tenants. We will continue to look for transformational investing opportunities as the Japanese market offers strong relative value across the office, logistics and residential sectors.”

Euan Kennedy, Member of Management, Private Real Estate Asia, Partners Group, adds: “The Tama Center has defensive cash-flows with minimum near-term leasing risk. We have also identified positive demographic trends in the wider Tama area as Greater Tokyo continues to experience population growth and low unemployment rates, underpinning demand for office space. Looking ahead, we think this asset is well-positioned to benefit from structural tailwinds as demand for more satellite offices in non-CBD areas rise globally due to the impact of COVID-19.”

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InfraRed Capital Partners completes acquisition of UK urban logistics portfolio

InfraRed Capital Partners

Last-mile acquisition adds to existing portfolio of assets located within short drive-times of key urban centres

InfraRed Capital Partners Limited (“InfraRed”), on behalf of the InfraRed Urban Logistics Income Fund (“IULIF”), has completed the acquisition of an eight asset urban logistics portfolio (“the Portfolio”) from NW1 Partners and Marchmont Investment Management for £50.8m.

IULIF targets high quality urban logistics assets located within a 20 minute drive-time of the UK’s top 10 city centres. The Fund is looking to capitalise on the growing imbalance between supply and demand for last-mile and urban servicing industrial assets in city fringe locations. This is the third acquisition for IULIF during the COVID-19 pandemic and represents further progress in the aggregation of an attractive income-focused portfolio for the benefit of the Fund’s investors.

The 261,000 sq ft portfolio includes six assets located within and around London’s M25 motorway, with the remaining two assets located in Manchester’s Trafford Park and Birmingham’s Fort Park. The largest tenants in the portfolio are DHL and Hermes, providing IULIF with further exposure to leading e-commerce and third-party logistics operators to complement its existing occupiers. The acquisition also improves the diversification and resilience of the Fund’s income profile.

Trafford Park, Manchester

Dean Harrison, Investment Director at InfraRed Capital Partners, commented:

“Over the past year, the COVID-19 pandemic has undoubtedly accelerated changes in consumer shopping habits; driving the trend towards e-commerce related industrial space. This transaction is representative of InfraRed’s ongoing commitment to capturing the outperformance expected from the urban logistics sub-sector, and we expect that these assets will continue to benefit from strong occupational demand as this trend towards internet shopping continues. InfraRed is looking to expand its urban logistic holdings in the UK and Western Europe throughout 2021 with substantial capital remaining available for deployment.”

Knight Frank, Dentons, Ernst & Young, WSM and Paragon acted for InfraRed.

DTRE, Jones Day, Osborne Clarke and Malcolm Hollis acted for NW1 Partners and Marchmont Investment Management.

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H.I.G. Realty Invests in Production Studios & Content Hub in Madrid

H.I.G. Europe

LONDON – January 15, 2021 – H.I.G. Capital, LLC (“H.I.G.”), a leading global alternative investment firm with $43 billion of equity capital under management, announced today that one of its affiliates has invested in Madrid Content City, an approximately 140,000 square meter hub with state of the art audio-visual facilities, including production studios, production & post-production technical facilities, and a university focused on media studies.

H.I.G. continues to add to its sizeable portfolio of real estate assets across Europe, consisting of both equity as well as debt investments, with a particular focus on its target market of value-added small and midcap opportunities.

Riccardo Dallolio, Managing Director and Head of H.I.G. Europe Realty Partners, commented: “Madrid Content City will benefit from strong secular tailwinds underpinned by the boom in content production. The state-of-the-art studios and related facilities, the exceptional multinational tenant line-up with long term leases, and its critical mass will make it a leading content production hub in continental Europe”.

Esteban Caja Samboal, Principal at H.I.G. Europe Realty Partners in Madrid, added: “This transaction further demonstrates our ability to leverage our strong local network, execution capabilities and invest in an innovative real estate asset class leveraging on H.I.G.’s real estate as well as TMT expertise”.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $43 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Rio de Janeiro, São Paulo and Bogotá, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

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Safestore and Carlyle’s Joint Venture acquires self-storage portfolio in The Netherlands

Carlyle

London, UK – Global investment firm The Carlyle Group (NASDAQ: CG) and Safestore (FTSE 250: SAFE) today announced that their joint venture, established in August 2019, has acquired Opslag XL, a self-storage operator with three stores in The Netherlands.

The portfolio comprises three high-quality self-storage stores, including two freehold locations in The Hague and Hilversum regions and one short leasehold in Amsterdam. The assets total c.7,000 sq metres (75,000 sq ft) of maximum leasable area. The Dutch self-storage market offers an attractive opportunity given it is a still highly fragmented market characterised by under-supply in floor space per capita relative to more mature markets such as the US and UK. 

The Carlyle Group has an 80% shareholding in the joint venture through Carlyle Europe Realty (CER), a €540 million pan-European real estate fund, with Safestore, one of Europe’s largest listed self-storage operators, holding the balance.

This acquisition represents CER’s third add-on acquisition for its platform with Safestore, following the acquisitions of Lokabox, a six-store self-storage portfolio in Belgium, in June 2020, and M3 Self Storage, a six-store self-storage portfolio in The Netherlands, in September 2019.

Marc-Antoine Bouyer, Managing Director on the Carlyle Europe Realty advisory team, said: “This acquisition represents the next step in establishing a significant platform in the rapidly growing European self-storage market, which has benefitted from positive demographic and social trends and been resilient during the Covid-19 pandemic. We look forward to continuing to work alongside Safestore to unlock further value in our portfolios and seek additional opportunities in the European self-storage market.”

Frederic Vecchioli, Chief Executive Officer of Safestore said: “Since 2016, Safestore has grown its portfolio to 159 stores, through the successful acquisition and new development of 46 stores in our core UK and Paris markets and entry into the Spanish market. This acquisition increases our exposure to the attractive Dutch self-storage market. In combining the specialist industry knowledge of Safestore with the pan-European investing experience of Carlyle, we continue to identify prime development and acquisition opportunities, building on our multi-country, highly scalable platform.” 

ABN AMRO served as commercial advisor to Carlyle.

The transaction follows CER’s acquisition of a portfolio of three distribution logistics assets in Germany earlier this month.

ENDS

Press Enquiries:
Safestore:
Instinctif Partners       
Guy Scarborough/Catherine Wickman   020 7457 2020
Safestore Holdings plc   020 8732 1500]

The Carlyle Group:
Andrew Kenny
Tel: +44 7816 176120
Email: andrew.kenny@carlyle.com

About The Carlyle Group:
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $230 billion of assets under management as of September 30, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 30 offices across six continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

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KKR Closes First Asia Real Estate Fund at US$1.7 billion

KKR

January 13, 2021

HONG KONG–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the final close of KKR Asia Real Estate Partners (“AREP” or the “Fund”), a US$1.7 billion fund focused on opportunistic real estate investments in Asia Pacific.

“AREP’s close marks the next chapter of growth for KKR in Asia Pacific as we continue to expand our position as a proven alternative capital provider across asset classes,” said Ming Lu, Head of KKR Asia Pacific. “Asia Pacific’s real estate sector needs sophisticated investment and innovative operational solutions to meet the high demand for modernized properties and developments that are required to stay ahead of the region’s rapid growth. Our experienced team is well-positioned to capture compelling opportunities and add value to our portfolio to generate attractive, yield-adjusted returns for our investors.”

KKR’s Asia Pacific real estate platform takes a flexible investment approach across assets and platforms, utilizing equity and debt in both emerging and developed markets. AREP will invest in opportunities where KKR can drive meaningful growth by leveraging the Firm’s highly experienced in-country investment teams, its global network of industry and operational experts, and long track record of value creation. The Fund, which builds on KKR’s standing as a partner of choice to leading real estate businesses and developers, will specifically focus on a range of sectors, including commercial, industrial and residential properties, and will opportunistically evaluate assets in emerging alternative sectors.

John Pattar, Head of Asia Pacific Real Estate at KKR, said, “The transformation of Asia Pacific’s real estate sector is creating a strong pipeline of new and exciting opportunities that are well-suited to KKR’s flexible investment approach, local expertise and deep operational experience. Increased domestic consumption, productivity and urbanization – combined with the acceleration of e-commerce and platform-based businesses and the evolution of the traditional office landscape – is fundamentally reshaping the region’s real estate sector. AREP will play an important role in bringing the necessary solutions to the region’s real estate industry during this exciting phase of growth.”

AREP, which is KKR’s inaugural pan-Asian real estate fund, received strong support from a diverse group of new and existing global investors, including public and corporate pensions, sovereign wealth funds, insurance companies, endowments, private banking platforms, family offices and high net worth individual investors. The Fund represents one of the largest inaugural pan-regional real estate funds to have been raised in Asia Pacific to date.

“Our ability to raise this Fund in the midst of a pandemic is a testament to the strength of KKR’s Asia Pacific franchise, proven real estate track record around the world, and the trust in our ability to create value,” said Jon Fiorello, Head of KKR’s Real Estate Strategies Team. “We appreciate the confidence that our global investors have placed in our strategy and team.”

In Asia Pacific, the Firm has deployed more than US$1.5 billion of equity across approximately 20 real estate transactions since 2011, including investments in mixed use, commercial, industrial, hotel, office and retail properties. KKR has also provided debt financing to real estate developers and companies. Assets within KKR’s Asia Pacific real estate portfolio include, but are not limited to, Namsan Square, an office tower located in Seoul’s central business district.

Ralph Rosenberg, Global Head of KKR Real Estate, said, “AREP’s close is an exciting milestone for our global real estate platform. Asia Pacific is an integral and increasingly important part of our investment strategy given the attractive growth and demographic drivers shared by markets across the region. Looking ahead, we are well-positioned to build on our successes in Asia Pacific to create a diverse portfolio of investments capable of delivering attractive returns to our investors.”

KKR launched its dedicated real estate platform in 2011. The Firm has approximately US$14 billion of real estate assets under management in the US, Europe and Asia Pacific, as of September 30, 2020, and a team of approximately 90 dedicated investment professionals across 11 offices and 8 countries.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media:
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

KKR Americas
Kristi Huller, Cara Major or Miles Radcliffe-Trenner
+1 212-750-8300
Media@kkr.com

Source: KKR

 

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KKR Expands Real Estate Industrial Portfolio in Phoenix with a New Acquisition

KKR

January 12, 2021

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the acquisition of a 263,000 square foot industrial distribution property in Goodyear, Arizona. Strategically located in close proximity to the I-10 interstate highway, a major cross-country trucking artery, the property increases KKR’s industrial real estate footprint in the Phoenix, Arizona metropolitan statistical area (MSA) to over two million square feet.

The property is modern fulfillment center completed in 2019 with state of the art physical features including 36’ clear height and was 100% leased at acquisition to high quality tenant on a long-term basis. KKR acquired the asset from the developers, Provident Real Estate Ventures and Merit Partners.

“We continue to like high growth markets across the Sunbelt and are excited to further expand our presence in Phoenix with this high quality asset well suited to today’s logistics needs,” said Roger Morales, KKR Partner and Head of Commercial Real Estate Acquisitions in the Americas.

KKR is making the investment through its core plus real estate strategy. Across its funds, KKR now owns approximately 32 million square feet of industrial property in strategic locations across major metropolitan areas in the U.S.

Since launching a dedicated real estate platform in 2011, KKR has grown real estate assets under management to approximately $14 billion across the U.S., Europe and Asia as of September 30, 2020. The global real estate team consists of over 90 dedicated investment professionals, spanning both the equity and credit businesses.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media:
Cara Major or Miles Radcliffe-Trenner
212-750-8300
media@kkr.com

Source: KKR

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KKR Expands Real Estate Industrial Portfolio in Southern California with New San Diego Acquisition

KKR

January 6, 2021

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the acquisition of Three Piper Ranch, an industrial distribution property consisting of two buildings totaling approximately 330,000 square feet in San Diego, California. The property expands KKR’s industrial real estate footprint in Southern California to approximately 2.4 million square feet.

The newly acquired property was built in 2007 and features 32’ clear heights. It is located in the Otay Mesa submarket of San Diego with excellent access to SR-125, SR-905, I-805 and I-5. The property was 100% leased at acquisition to five separate tenants. KKR purchased the property from Zurich Alternative Asset Management, LLC and CBRE Capital Markets helped to broker the sale.

“We are excited to supplement our footprint in Southern California with the addition of this high quality asset,” said Ben Brudney, a Director in the Real Estate group at KKR. “We continue to like the long-term supply demand fundamentals in San Diego.”

KKR is making the investment through its Real Estate Partners Americas II Fund. Across its funds, KKR owns nearly 32 million square feet of industrial property in strategic locations across major metropolitan areas in the U.S.

Since launching a dedicated real estate platform in 2011, KKR has grown real estate assets under management to approximately $14 billion across the U.S., Europe and Asia as of September 30, 2020. The global real estate team consists of over 90 dedicated investment professionals, spanning both the equity and credit businesses.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Cara Major or Miles Radcliffe-Trenner
212-750-8300
media@kkr.com

Source: KKR

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Tikehau Capital and Foncière Atland sell a portfolio of 180,000 m2 of industrial assets to Blackstone

Tikehau

Paris, 26 December 2019 – Tikehau Capital, the alternative asset management and investment group, and Foncière Atland, a listed real estate investment trust, today announced the sale of a portfolio of 22 industrial assets held by TRE 1, a fund managed by Tikehau Capital and let to Elis, to a fund managed by Blackstone.

TRE 1 is predicted to achieve close to 2x return based on initial investment for its investors.
The 22-asset portfolio, which was acquired in 2014 by Tikehau Capital through the fund Tikehau Real Estate 1 (TRE 1), includes 21 buildings used for operational purposes and a logistics warehouse located in France. These assets are let to Elis, a leader in rental and cleaning solutions for flat linen, work clothing, and hygiene and wellness equipment, totalling 178,528 m². TRE 1 was launched by Tikehau Capital in March 2014, and Foncière Atland took care of the asset management of the portfolio.

This deal initially encompassed the sale and leaseback of 17 fully-owned French sites primarily used as industrial laundries, let to Elis Group. In late June 2014, TRE 1 acquired 5 additional sites in a second transaction, bringing the total assets in the portfolio to 22. The initial investment was secured by 15 years term leases. The portfolio benefits from a residual firm period of over 9 years on the leases.
The seller in this transaction was advised by Catella Property, as well as Clearwater, Gide, BDGS and Étude Chevreux.

About Tikehau Capital:
Tikehau Capital is an asset management and investment group with €24.3bn of assets under management (as at 30 September 2019) and shareholders’ equity of €3.1bn (as at 30 June 2019). The Group invests in various asset classes (private debt, real estate, private equity and liquid strategies), including through its asset management subsidiaries, on behalf of institutional and private investors. Controlled by its managers, alongside leading institutional partners, Tikehau Capital employs more than 500 staff (as at 30 September 2019) in its Paris, London, Amsterdam, Brussels, Luxembourg, Madrid, Milan, New York, Seoul, Singapore and Tokyo offices.
Tikehau Capital is listed on the regulated market of Euronext Paris, Compartment A (ISIN code: FR0013230612; Ticker: TKO.FP)
www.tikehaucapital.com

Press Contacts:
Tikehau Capital: Julien Sanson – +44 20 3821 1001
Finsbury: Arnaud Salla & Charles O’Brien – +44 207 251 3801
press@tikehaucapital.com
Shareholders and Investors Contact:
Louis Igonet – +33 1 40 06 11 11
shareholders@tikehaucapital.com

Disclaimer
This transaction was carried out by TIKEHAU INVESTMENT MANAGEMENT SAS (on behalf of the funds that it manages), a portfolio management company approved by the AMF since 19/01/2007 under number GP-0700000006.
This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed.
Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of Tikehau Capital and/or its affiliates. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relates to Tikehau Capital North America.

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CapMan Real Estate acquires three office and mixed-use buildings in Stockholm

Capman

CapMan Real Estate press release          23 December 2020 at 8.30 a.m. EET

CapMan Real Estate acquires three office and mixed-use buildings in Stockholm

CapMan Nordic Real Estate III Fund has agreed to acquire a portfolio of three office and mixed-use buildings in Västberga, south of central Stockholm from Wäsö Fastigheter.

The portfolio consists of one office building and two mixed-use office and warehouse buildings. In total the portfolio comprises over 30,000 sqm of lettable space, out of which approximately 30% is currently vacant. CapMan plans to refurbish the properties to meet modern standards for commercial space and to substantially decrease the energy footprint of the portfolio.

Västberga is the most centrally located industrial area in Stockholm. The properties are situated next to the E4 motorway and close to public transport, providing effortless and fast access to central Stockholm.

“This portfolio is a great addition to our growing third value-add fund. Following our planned updates, the properties will provide a welcomed addition of high-quality office and warehouse space in the area. Upgrading the technical systems in the buildings will improve the energy efficiency, with reduced emissions and energy costs as a result, further increasing the attractiveness of the space for a wide variety of tenants,” says Anna Reuterskiöld, Partner and Head of CapMan Real Estate Sweden.

CapMan’s Real Estate team comprises over 40 real estate professionals in Helsinki, Stockholm, Copenhagen and Oslo. CapMan Real Estate currently manages a total of EUR 2.8 billion in real estate assets. The team was awarded UK & European Opportunistic Property Manager of the Year at the 2020 Professional Pensions Investment Awards.

CapMan Nordic Real Estate III Fund, the team’s third Nordic value-add fund, was established in September 2020 and has raised EUR 449 million to date with a target size of EUR 500 million. The acquisition will become the fund’s sixth transaction and the second in Sweden.

For further information, please contact:
Anna Reuterskiöld, Partner, Head of CapMan Real Estate Sweden, tel. +46 731 54 22 31

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. Our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.

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