Tag Archives: Real estate

PropertyGuru raises S$300M to accelerate growth in Southeast Asia

KKR

September 2, 2020

Long-standing shareholders TPG and KKR strengthen investment and confidence in the Group’s leadership, strategy and performance.

 

SINGAPORE, 2 September 2020 – PropertyGuru Group (‘PropertyGuru’ or ‘the Group’), Southeast Asia’s leading property technology (“PropTech”) company, today announced that it has received an additional investment of S$300 million (approx.) [US$220 million] in recent funding rounds by leading global investment firms TPG and KKR (via KKR Asian Fund III).

This investment comes at an extraordinary time for PropertyGuru: With 24% y-o-y revenue growth, PropertyGuru beat 2019 forecasts and continues to lead in Southeast Asia with 57% market share* (4x nearest player). PropertyGuru is the PropTech leader across all five markets in the region with its No. 1 marketplaces: PropertyGuru in Singapore and Malaysia, Batdongsan.com.vn in Vietnam DDproperty.com in Thailand, and Rumah.com and RumahDijual.com in Indonesia. Over the past year, business momentum and financial performance has been very strong across multiple key markets.

The funding will accelerate PropertyGuru’s growth strategy across all key markets as the Group ramps up its investment to meet the rapidly evolving needs in the property ecosystem. The continued support of TPG (over the past five years) and KKR (over the past two years) will see PropertyGuru further invest in identified strategic areas of growth, including its mortgage marketplace launched this year- PropertyGuru Finance, an end-to-end sales enablement solution for property developers- PropertyGuru FastKey and data capabilities to empower property seekers across Southeast Asia to ‘Find.Finance.Own’ their homes.

Olivier Lim, Chairman of the Board, PropertyGuru Group, said, “Since its founding in 2007, PropertyGuru has secured its leadership by continuing to provide increasing value to all its customers and users. We have scaled rapidly across Southeast Asia by anticipating and addressing consumer needs with a data-driven strategy, underpinned by a talented team of ‘Gurus’. This year, amidst the changing business realities, the demonstrable strength of our platforms has solidified our relative market leadership and provides new opportunities to accelerate both organic and inorganic growth with new investments. This increased support from TPG and KKR to accelerate growth is a great validation of the Group’s successful performance, its leadership team and their strategy to unlock the opportunities that will achieve the Group’s ambitions in the region.”

Hari V. Krishnan, Chief Executive Officer and Managing Director, PropertyGuru Group, said, “Our strong financial performance over the last few years has enabled us to invest aggressively and smartly, to build what is today an integrated and differentiated technology platform that caters to the unique opportunities in Southeast Asian markets.

The additional investments from TPG and KKR will enable us to continue building Southeast Asia’s property trust platform and accelerate our momentum in key markets like Malaysia and Vietnam. We help property seekers ‘Find.Finance.Own’ their home and these new investments will accelerate the growth plans we have identified as more consumers and customers move towards digital solutions for  property buying and selling. Over the last thirteen years we helped create the PropTech industry in this region, and as the market leader we look forward to providing further innovations to digitize the property sector.”

Upgrades and new offerings so far in 2020

PropertyGuru’s belief in technology as a connector and solution to resolve home-seekers’ pain-points has seen it relentlessly invest and expand its service offerings in data and digital tools to improve transparency in the property ecosystem for consumers, developers, and agent partners across Southeast Asia.

This year, PropertyGuru expanded into home finance with the launch of a mortgage marketplace in Singapore, ‘PropertyGuru Finance’, as well as a major upgrade to the property seeker experience in Vietnam. The Group enhanced offerings to provide data-driven insights as well as additional sources of income for agent partners. For property developers, significant enhancements were made to PropertyGuru FastKey with the launch of PropertyGuru FastKey – StoryTeller– a digital product that allows 360-degree immersive walkthroughs of a project, its units and the surrounding cityscape, to showcase and explore properties with real-time availability, straight to the screens of property seekers who explore properties from the convenience and safety of homes. This solution enables property developers to start marketing their projects much earlier, even before constructing the sales gallery or show flat.

As behaviours adopted during the pandemic reshape consumer habits and preferences in a new normal, digital transformation is accelerated across sectors. Per the latest report by Bain & Company and Facebook, nearly 70% of Southeast Asians are expected to be digital consumers by the end of 2020. The dynamic landscape is thus revealing new growth opportunities in PropertyGuru’s existing markets to enhance and expand offerings to consumers, property agents and developers.

– END –

*Market share Source: SimilarWeb data – Engagement market share, last six month average as at July 2020

 

About PropertyGuru Group

Group is Southeast Asia’s leading property technology company and the preferred destination for 24.5 million property seekers to find their dream home, every month.  PropertyGuru and its group companies empower property seekers with the widest option of more than 2.7 million homes, in-depth insights and solutions that enable them to make confident property decision across Singapore, Malaysia, Thailand, Indonesia and Vietnam.

 

PropertyGuru.com.sg was launched in 2007 and revolutionised the Singapore property market by taking it online and made property search transparent for the property seeker. Over the decade, the group has grown from a regional property media powerhouse to a high-growth technology company with a robust portfolio of No.1 property portals across its core markets; award-winning mobile apps; best-in-class developer sales enablement platform, FastKey; mortgage marketplace PropertyGuru Finance; and a host of industry-leading property offerings including Awards, events and publications across Asia.

 

For more information, please visit www.PropertyGuruGroup.com ; https://www.linkedin.com/company/propertyguru

 

Media contacts:

  
Sheena Chopra Anushka Shrivastava / Jamie Tan
PropertyGuru Archetype Singapore
+65 92475651 +65 83678767 / +65 94880992
sheena@propertyguru.com.sg propertyguru@archetype.co

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CapMan Real Estate sells office property in Stockholm to Fabege

CapMan Real Estate
Press Release
8 May 2020 at 12.00 p.m. EEST

CapMan Real Estate sells office property in Stockholm to Fabege

CapMan Nordic Real Estate II Fund has signed a sale agreement with Fabege regarding Påsen 1, an approx. 10,000 sqm multi-let office building in Hammarby Sjöstad. The agreed property value is SEK 441.4 million.

“We purchased this property in March 2018 and were very much drawn towards the value-add opportunities we saw at that time. Hammarby Sjöstad and its surrounding area in southern Stockholm has experienced rapid development and growth in the past few years and we have seen rental values rise significantly as a result. We are pleased to capitalise the value we have created to date and also to sell to Fabege who is a long-term owner and developer in the area,” comments Per Tängerstad, Partner at CapMan Real Estate.

Påsen 1 is the second exit of the CapMan Nordic Real Estate II Fund. The focus of the €425 million fund was to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities. CapMan is currently raising its third value-add Nordic fund.

Nordanö and Mannheimer Swartling assisted CapMan on the sale.

For further information, please contact:
Per Tängerstad, Partner, CapMan Real Estate, tel. +46 70 591 23 00

About CapMan www.capman.com

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. With over €3 billion in assets under management, 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, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs approx. 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.

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CapMan Real Estate sells school property in Stockholm to Stenvalvet

CapMan Real Estate Press Release
20 April 2020 at 08.00 EEST

CapMan Real Estate sells school property in Stockholm to Stenvalvet

CapMan Nordic Real Estate I Fund has completed the sale of Skutkrossen in Vinsta, Northwestern Stockholm, to Stenvalvet, a Swedish property company specialising in public properties.

CapMan Nordic Real Estate I Fund purchased the property in 2017. At acquisition, the 12,096 sqm property was leased to ten tenants including the the City of Stockholm’s Education Department as the main tenant. Since acquisition, CapMan has formalized the zoning at the property for longer term school use and expanded the school area as well as extended the duration of the school lease and improved the rental terms.

“We invested in Vinsta as it is a fast-growing suburb with increasing demand from schools and businesses. The area has undergone very positive changes and will benefit further from the opening of the Stockholm Bypass in the coming years with Vinsta being one of the key entry / exit junctions on the bypass. Having completed many value-add activities at the property, we are now pleased to sell to a strong and long-term owner of school properties who we have cooperated with successfully in the past,” comments Per Tängerstad, Partner at CapMan Real Estate.

Skutkrossen is the thirteenth exit of the CapMan Nordic Real Estate I Fund. The focus of the €273 million fund was to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities. CapMan is currently raising its third value-add Nordic fund.

For further information, please contact:
Per Tängerstad, Partner, CapMan Real Estate, tel. +46 70 591 23 00

About CapMan www.capman.com

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. With over €3 billion in assets under management, 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, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 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.

 

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Ardian Real Estate sells Konrad office complex after comprehensive repositioning

Ardian

Frankfurt / Munich, March 2, 2020: Ardian, a world-leading private investment house, has signed an agreement to sell the KONRAD office complex to a 50-50 joint venture between Union Investment and Hansainvest. The transaction takes place approximately three years after the acquisition of the Wappenhalle office complex in Munich-Riem as the first real estate investment in the German-speaking market by the Ardian Real Estate team. During the investment phase, Ardian and its real estate team completed comprehensive upgrade measures. In this context, the real estate complex was repositioned and renamed KONRAD in September 2017. The modern high-grade office complex, which comprises about 34,000 sqm of office space, consists of the Wappenhalle (“Coat of Arms Hall”), a listed building originally built in 1939, and nine further buildings connected by glass structures and situated around a courtyard garden. The parties have agreed not to disclose any financial details relating to the transaction.

Since the acquisition by Ardian in 2017, the quality and attractiveness of the areas has been significantly increased – among other things through the renovation and redesign of the two entrance areas, modernization of the façade and interior areas, and an upgrade of the garden and courtyard. A sum in the tens of millions of euros was invested for the upgrade measures and the rebranding. An important milestone occurred in 2019 with the achievement of a 100 percent occupancy rate by 30 tenants under long-term lease agreements. Most recently, a modern dining area was created on the property in September 2019 and is operated by Leonardi. The Wappenhalle is still used under its existing name as a high-quality venue for galas, trade fairs and exhibitions as well as for conferences. For the repositioning of KONRAD, in February 2020 Ardian Real Estate received the German immobilienmanager award in the “Investment” category.

Bernd Haggenmüller, Senior Managing Director and responsible for the DACH region for Ardian Real Estate, said: “We have fully achieved our goals for KONRAD. The building complex has been successfully repositioned and modernized. It has been significantly upgraded through targeted investments and has attractive unique selling points with the Wappenhalle and the associated combination of tradition and modernity. After reaching full long-term occupancy in 2019, this demonstrates that the measures have been very well received by both existing and prospective tenants.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 680 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

COMPANIES AND PERSONS INVOLVED IN THE TRANSACTION

Ardian Team: Bernd Haggenmüller, Moritz Pohlmann, Nico Rheims, Benedict Rasche
Legal: Herbert Smith Freehills (Thomas Kessler)
Tax: Taxess (Boris Meissner)
Technical: REC Partners (Joachim Wahlich)

PRESS CONTACT

CHARLES BARKER CORPORATE COMMUNICATIONS
ardian@charlesbarker.de
TOBIAS EBERLE
Tel: +49 69 79409024
PETER STEINER
Tel: +49 69 79409027

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ARDIAN REAL ESTATE AND BANCA MPS SIGNED AGREEMENT FOR A TRANSACTION ON A REAL ESTATE PORTFOLIO

Ardian

The portfolio consists of 28 buildings, mainly offices, with most located between Milan, Rome, Florence and Padua. The acquisition includes five significant historical buildings.

Milan, February 28, 2020 – Ardian, a world leading private investment house, has signed an agreement with Banca Monte dei Paschi di Siena for the acquisition of a portfolio composed of 28 properties, owned by the MPS Group. The agreement concludes a competitive process started in July 2019. This follows a period of exclusivity granted to Ardian on February 10.

The portfolio consists of 28 buildings primarily intended for office use mostly located across Milan, Rome, Florence and Padua. The total commercial area spans across approximately 90,000m².

Notably, the portfolio includes five historical buildings which carry unique historical value and are considered artistically and architecturally significant. Between them they represent most of the value of the entire portfolio. Among these buildings is the Bank’s historic headquarters in Milan in Via Santa Margherita, a few steps from Piazza della Scala. The façade on Piazza Ferrari was designed by prominent architect, designer and urban planner Luigi Caccia Dominioni. Palazzo Alinari in the historical centre of Florence and late 19th century building in the famous Via del Corso in Rome that connects Piazza Venezia to Piazza del Popolo.

According with Ardian’s strategy, these five prestigious buildings will be the subject of redevelopment which will aim to create office and retail space.

In the coming weeks, Banca MPS and Ardian will enter into a Preliminary Sale and Purchase Agreement. The completion of the planned acquisition, for most properties, will be complete by the second half of 2020.

Rodolfo Petrosino, Senior Managing Director Southern Europe of Ardian Real Estate, commented: “We are very pleased about the acquisition of this significant real estate portfolio, boasting some unique trophy assets. Our investments in Italy, in the real estate sector, now rise to around €1 billion and positions us among the most active players in the Italian market. This is largely due to the skills and experience of our local team and Ardian’s international platform. We have already made significant investments in Italy and we will continue to select promising opportunities in the core-plus and value-added real estate segment”.

Advisors for Ardian were NCTM for the legal, fiscal and administrative part, Studio Gattai, Minoli, Agostinelli Partners and Studio Legale Gattamelata e Associati for the administrative due diligence and REAAS for the technical and environmental due diligence.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 640 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt

Follow Ardian on Twitter @Ardian

www.ardian.com

PRESS CONTACTS

ARDIAN – UK
Gregor Riemann
Headland Consultancy
griemann@headlandconsultancy.com
Tel: +44 (0)20 3435 7483
ARDIAN – Italy
Image Building
ardian@imagebuilding.it
Tel: +390289011300

 

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KKR, IGIS and SK D&D Acquire Namsan Square in Seoul

KKR

SEOUL, South Korea–(BUSINESS WIRE)– Global investment firm KKR, Korea’s largest real estate fund manager IGIS Asset Management (“IGIS”), and leading Korean real estate developer SK D&D today announced their acquisition of Namsan Square, an office tower located in the central business district of Seoul, from a real estate investment trust operated by KOREIT, a domestic asset manager in Korea.

Built in 1978, Namsan Square is strategically located at the gateway to Seoul’s central business district. It occupies more than 75,000 square meters across 23 floors of premium office and retail space and includes tenants such as multinational and South Korean corporations, as well as government organizations. Formally known as Kukdong Building, Namsan Square has been renovated through the years and today holds a LEED Gold green building certificate.

The consortium plans to enhance the workspace environment by upgrading the building façade, restrooms and the retail arcade without disruption to existing tenants.

David Cheong, a Director on KKR’s Asia Real Estate team, said, “South Korea holds terrific potential for real estate investment, and the market is a core part of KKR’s regional real estate strategy. Namsan Square is particularly compelling as one of Seoul’s preeminent commercial buildings, and we are extremely pleased to have the opportunity to collaborate with IGIS and SK D&D to significantly improve existing tenants’ overall experience and work-life balance by executing various refurbishment and value-add works.”

Junho Pok, Head of Real Estate Development at IGIS, said, “We are excited to extend our relationship with a world-class investor like KKR to invest in this high-quality property at the gateway of Seoul’s business district. The IGIS team looks forward to bringing our extensive experience renovating real estate projects to Namsan Square and enhancing this property for tenants in the years to come.”

Sun-Pyo Hwang, Head of Real Estate Development Division at SK D&D, said, “This is a compelling investment made alongside strong local and global partners. Through proactive management and our ability to enact key improvements, we look forward to adding value to Namsan Square and enhance the working experience for tenants.”

KKR takes a flexible approach to real estate investment in Asia Pacific across traditional value-add real estate opportunities, corporate and platform investments, and special situations. KKR pairs the capabilities of its local teams in Asia Pacific with the Firm’s global industry and operational expertise to add value. KKR has committed more than US$1.4 billion of equity in its pan-regional real estate strategy, as of December 31, 2019.

South Korea is a key part of KKR’s Asia real estate strategy, and Namsan Square is the Firm’s fourth real estate investment in the country. Previous investments include The-K Twin Towers, a prime office complex located in Seoul’s Gwanghwamun district, Renaissance Parc, a mixed-use real estate development project in Seoul’s Gangnam business district, and the BLK Pyeongtaek Logistics Center development in Pyeongtaek.

KKR makes its investment from its real estate fund. Further details of the transaction are not disclosed.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, 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 Contacts:
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

The Signature (for KKR Korea)
Nuri Hwang
+82 2 6951 3557
Nuri@thesignature.co.kr

Source: KKR

 

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ARDIAN REAL ESTATE ACQUIRES OFFICE BUILDING IN MILAN

Ardian

The transaction was conducted through a multi-compartment SICAF managed by Prelios SGR

Milan, February 17, 2020 – Ardian, a world-leading private investment house, has acquired a 7,000 sq.m building in Piazza Fidia 1, Milan, from Generali Real Estate S.p.A. SGR. The acquisition marks Ardian Real Estate’s third investment in Milan, and eighth in Italy.

Built in 1968, the free-standing office building in Milan’s dynamic Isola district is strategically located half-way between Porta Nuova and Scalo Farini, a disused railway yard due to be fully redeveloped as part of a wider redevelopment plan for the area.

The refurbishment plan for the building will involve a complete refurbishment in line with the highest international standards for energy performance, sustainability and architecture.

The purchase is Ardian’s second acquisition through the SICAF, an independently managed fixed-capital real estate multi-compartment investment company managed by Prelios SGR, in which Ardian is the sole investor. The SICAF previously acquired an office building in Via Roncaglia 12/14 in a central area in south-west Milan, from Sator Immobiliare SGR.

As an investor in AIFs managed by Prelios SGR, Ardian Real Estate has invested approximately €500 million to date in properties in Milan and Rome mainly intended as office buildings.

Rodolfo Petrosino, Senior Managing Director for Ardian Real Estate’s operations in Southern Europe, said: “This deal perfectly highlights our strategy of investing in the best core plus-value added opportunities in the Italian market, where we can create value through our important partnership with Prelios. The redevelopment plan, to be launched shortly, will transform the area, and will enable us to attract high-quality tenants for this building.”

Alessandro Busci, Head of Fund Management at Prelios SGR, added: “We are proud of our partnership with Ardian Real Estate, which has been strengthened through this new acquisition. In a competitive market, achieving returns that match investors’ risk appetites depends increasingly on the fund manager’s ability to maximize the value of the assets under management. So, we are delighted that Ardian Real Estate, and our investors, see Prelios SGR as an effective partner that can help them achieve their objectives. The building will be redeveloped and repositioned so that we can make the most of its potential value.”

The transaction was completed with Chiomenti advising on legal and tax Gattai, Minoli, Agostinelli, Partners as administrative advisors, General Planning as architectural advisors and Agire who carried out the technical and environmental due diligence.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 640 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian

www.ardian.com

ABOUT PRELIOS SGR

PRELIOS SGR is the Prelios Group’s fund manager. One of Italy’s largest real estate and securities SGRs, which in 2018 obtained authorization from the Italian financial authorities to expand its operations into debt funds, it promotes and manages AIFs (investment funds and SICAFs) and separate accounts, and provides advisory services to assist leading national and international investors in drawing up and implementing effective investment and management strategies for real estate or real-estate-backed securities across Italy. At December 2019, Prelios SGR had assets under management for approximately 5.9 billion Euro through 36 funds, including two umbrella funds, two SICAFs and three separate accounts.
Prelios SGR is a signatory of the United Nations-supported Principles for Responsible Investment network, which works for the integration into investment practices of the six responsible investment principles incorporating environmental, social and corporate governance issues.

Follow Prelios on Twitter @Prelios and Linkedin

www.prelios.com

PRESS CONTACTS

ARDIAN
Headland
VIKTOR TSVETANOV
Tel: +44 207 3435 7469
VTsvetanov@headlandconsultancy.co.uk
Prelios Group Press Office
+39 02 6281.4176/4826 – pressoffice@prelios.com
Image Building
Tel. +39 02 89 011 300
prelios@imagebuilding.it
Tel: +390289011300

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CapMan Nordic Real Estate II signs agreement with the Swedish Police to lease in excess of 30,000 sqm of space in Eskilstuna, Sweden

CapMan Real Estate Press release
7 February 2020 at 02.00 p.m. CET

CapMan Nordic Real Estate II signs agreement with the Swedish Police to lease in excess of 30,000 sqm of space in Eskilstuna, Sweden

CapMan Nordic Real Estate II fund has entered into an agreement with the Swedish Police to lease more than 30,000 sqm of space on a long-term basis at its Vintergatan 19 property in Eskilstuna for a new police station.     

CapMan acquired the 63,000 sqm Vintergatan 19 property in March 2018, which sits on a site of 6.5 hectares on Kungsgatan 71 in central Eskilstuna. In 2019, the main existing tenant, ASSA ABLOY, extended its lease on 11,000 sqm for a period of 12 years. In addition to this, CapMan will now develop a modern police station at the property, which will be ready in 2024 and be of significant value to the Police Authority, its employees and the Södermanland County community.

“We are very excited to enter into a long-term agreement with the Police Authority and to develop a new facility for them.  The Police Authority have for some time been searching for a good solution to meet their future needs in Eskilstuna and CapMan is delighted to assist them with this. Completion of this agreement is a major step towards achieving our business plan for the property,” comments Per Tängerstad, Partner at CapMan Real Estate.

Wigge & Partners acted for CapMan in the transaction.

CapMan Nordic Real Estate II is a €425 million fund raised in August 2017. The focus of the fund is to acquire mainly office, industrial, retail and residential properties located in established submarkets of major Nordic cities.

CapMan Real Estate has a team consisting of 40 real estate professionals in Helsinki, Stockholm, Copenhagen and Oslo. CapMan’s current real estate volume under management is over EUR 2.5 billion.

For further information, please contact:
Per Tängerstad, Partner, CapMan Real Estate, tel. +46 70 591 23 00

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, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. CapMan is a signatory of the PRI since 2012 and has established the Nordic chapter of the Level 20 network that promotes diversity in the private equity industry. CapMan Plc’s shares are publicly traded on Nasdaq Helsinki since 2001. Please visit www.capman.com for more information.

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Partners Group acquires portfolio of 30 European office and logistics properties

Partners Group

Partners Group, the global private markets investment manager, has, on behalf of its clients, acquired a majority equity stake in a portfolio of 30 commercial properties in Germany, France and the Netherlands. The properties are part of a portfolio previously owned by Imfarr Beteiligungs GmbH and SN Beteiligungen Holding AG, and were acquired for a total transaction value of over EUR 550 million. The acquisition is a joint venture with Peakside Capital Advisors AG (“Peakside”).

The portfolio consists of 27 office and three logistics properties and is mostly located in Germany, with the remaining assets based in greater Paris and Amsterdam. The German portfolio includes buildings in Munich, Hamburg, and Stuttgart, as well as the greater Düsseldorf and Frankfurt regions, and comprises a well-diversified tenant base. Following the acquisition, Partners Group and Peakside will work on a range of value creation opportunities, including repositioning several properties, to optimize the portfolio’s value.

Lars Kreutzmann, Co-Head Private Real Estate Europe, Partners Group, states: “This acquisition significantly expands our real estate portfolio in Germany and underlines the importance of the German market for us on a relative value basis. The portfolio benefits from attractive prime and secondary office locations and is a great fit with our value creation strategy, whereby we focus on properties that can benefit from repositioning with sufficient time and capital. We plan to undertake a multi-year value creation program to maximize value for our clients.”

Mike Bryant, Co-Head Private Real Estate, Partners Group, adds: “This portfolio was originally part of a larger real estate portfolio that was brought to market close to a year ago. Following that sales process, which we followed closely, we were given the opportunity, through our network, to acquire the assets that best align with our relative value strategy. This targeted sourcing makes this acquisition a great fit for our Real Estate Opportunities strategy.”

In December 2019, Partners Group also agreed on behalf of its clients the sale of the “City Campus” office complex, situated on Saatwinkler Damm in the Charlottenburg district of Berlin, for a transaction value of around EUR 200 million. The property, which was repositioned during Partners Group’s holding period, includes 55,640 sqm of rental area and 479 parking spaces across six buildings. It was almost fully let to a mix of blue-chip tenants at the time of the sale.

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CapMan Real Estate in cooperation with Universal-Investment continues acquisitions for BVK by acquiring a property in Copenhagen from MT Højgaard

CapMan Real Estate press release
14 January 2020 at 4.30 p.m. EET
CapMan Real Estate in cooperation with Universal-Investment continues acquisitions for BVK by acquiring a property in Copenhagen from MT Højgaard

CapMan Real Estate expands Bayerische Versorgungskammer’s (BVK) Danish portfolio with the acquisition of a 8,900 sqm project developed by MT Højgaard in Flintholm. The acquisition expands the investment volume of CapMan’s mandate from BVK, which is a real estate fund held on the fund platform of Universal-Investment, to EUR 850 million based on the GAV of the portfolio.

The Flintholm property is located in Frederiksberg, an attractive residential area in Copenhagen, with park access and close to one of the main transportation hubs in the city.

The project will comprise 5,940 sqm residential area in 54 units, 500 sqm retail space and 59 parking spaces as well as storage space in the basement. All units will be equipped by either balconies or terraces.

The property is acquired on a forward funding basis from MT Højgaard, who will also be the general contractor. Construction of the property starts in the first quarter of 2020 with delivery of the turnkey project expected by the end of 2021.

“Flintholm is an excellent addition to BVK’s high quality residential portfolio. We look forward to our continued co-operation with BVK as we have a strong pipeline for further acquisitions across the Nordic countries,” comments Robert Feldt, Investment Director at CapMan Real Estate.

High requirements for architecture and townscape from Municipality of Frederiksberg

Architect Holscher Nordberg has designed an attractive project with attention to detail. This becomes apparent in the terraced building with the light shaded bricks, active zones in front of the retracted entrances, balconies with integrated plant containers and bay windows with views towards the park.

“With the development and sale of this project, we ensure a well-executed finalization of the area and delivery of a product that is in line with our own and the Municipality of Frederiksberg’s high requirements to architecture and townscape. We have been working with these features of the project, that in sum adds more value to the town and the community in the area”, comments Christina Jørgensen, Director of Project Development & PPP at MT Højgaard.

CapMan Real Estate’s Nordic organisation includes more than 40 committed real estate investment professionals, managing over €2.5 billion in real estate investments.

For further information, please contact:
Robert Feldt, Investment Director, CapMan Real Estate, tel. +45 50 51 88 41
Christina Jørgensen, Direktør for Projektudvikling & OPP, MT Højgaard, tel. +45 42 65 68 65

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, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London, Moscow and Luxembourg. Visit www.capman.com for more information.

About Bayerische Versorgungskammer:

Bayerische Versorgungskammer is the competence and service center for occupational and communal pension schemes and Germany´s largest pension scheme group under public law. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of twelve liberal professions´ and communal pension schemes. Bayerische Versorgungskammer covers about 2.3 million insured persons in total, with contributions of €4.8 billion and €3.4 billion pension payments annually. It currently has €77 billion assets under management and 1,315 employees. www.versorgungskammer.de

About Universal-Investment

With fund assets of around EUR 491 billion under administration, thereof EUR 377 billion in own vehicles and around EUR 114 billion in, inter alia, insourcing, well over 1,400 mutual and special investment mandates and a workforce of around 750, Universal-Investment is the largest independent investment company in the German-speaking region. With the acquisition of UI labs in January 2019, the industry-leading IT data specialist now completes the Group’s service portfolio by adding front office and data solutions. The investment company is the central platform for independent asset management and unifies the investment know-how of portfolio managers, private banks, asset managers and investment boutiques. Founded in 1968, the Universal-Investment Group is headquartered in Frankfurt/Main and has subsidiaries, branches and holdings in Luxembourg, Poland and Austria. It is one of the pioneers of the investment industry and has meanwhile become the market leader in the areas of master-KVG and private label funds. According to the 2019 PwC ManCo Survey, Universal-Investment is the largest AIFM ManCo in Luxembourg; among the Third-Party-ManCos, Universal-Investment also ranks in first place (as of November 30, 2019). More information available at: www.universal-investment.com

About MT Højgaard A/S

MT Højgaard is one of the leading construction companies in the Nordics. We create those spaces that we live, work and move around in and we have been doing that for a hundred years. Today we combine our practical know-how with advanced technology and we insist on co-operation based on dialogue, curiosity, courage and enthusiasm. MT Højgaard is a part of MT Højgaard Group. The Group’s 3,600 employees focus on co-operation, innovation, processes and sustainability. Visit us at mth.dk.

 

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