Tag Archives: Real estate

CapMan Real Estate and Scandic complete full refurbishment of historic Hotel Laajavuori

Capman

CapMan Real Estate and Scandic complete full refurbishment of historic Hotel Laajavuori

CapMan Real Estate and Scandic have completed an extensive refurbishment of the historic Hotel Laajavuori in Jyväskylä, Finland. The renovation project was delivered as planned, and the hotel’s final 117 newly upgraded rooms are now ready to welcome guests just ahead of the busiest winter holiday season.

The first phase of the renovation, which began in spring 2025, was completed last summer. This stage included the refurbishment of the hotel’s public areas, from the lobby and restaurant to its meeting and event facilities, as well as some of the guest rooms. With the completion of the second phase, the remaining rooms have now been renovated to meet modern standards of comfort, energy efficiency and usability.

The refurbishment of the protected hotel, originally constructed between 1969 and 1974, has been carried out with great respect for the building’s original spirit. Behind its concrete façade, guests will find a warm and atmospheric interior where the colour palette and materials of the era blend seamlessly with a contemporary hotel concept. The refurbished rooms emphasise comfort, elegance and sustainability, while adjustable in-room cooling further enhances the guest experience.

As part of the renovation, the building’s technical systems were comprehensively upgraded, significantly reducing the hotel’s environmental footprint. A new ventilation system and 71 geothermal wells installed on the property have markedly improved the building’s energy performance, raising its energy rating from class E to class B. Estimated annual savings in heating energy amount to approximately 1,500 megawatt hours, equivalent to the yearly heating needs of around 70–100 detached houses. Following the renovation, all of the hotel’s energy use is now completely carbon dioxide emission-free.

“Hotel Laajavuori is an architecturally and culturally significant property, and it was important for us to carry out the refurbishment in a way that preserves the building’s identity while also meeting the demands of the future. The renovation strengthens the hotel’s competitiveness for years to come and supports our objectives of sustainable value creation,” says Elias Salla, Asset Manager at CapMan Real Estate responsible for the property.

Guests will be able to stay in the refurbished rooms from Monday 2 February. In addition, the hotel will open its doors to residents of Jyväskylä on Friday and Saturday 6–7 February, offering guided tours and an opening weekend programme for visitors of all ages.

The property is part of the CapMan Hotels II fund portfolio.

For more information:

Elias Salla, Asset Manager, CapMan Real Estate, +358 44 301 0098

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and 7.1 billion euros in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, real asset debt, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London, Luxembourg, and Düsseldorf. We are listed on Nasdaq Helsinki since 2001. www.capman.com.

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East Capital and Nordecon Sign Contract for Construction of First Phase of Park Rae, Estonia’s Largest Logistics Park

East Capital

Several leading Estonian construction companies participated in the tender for the first phase of the construction of Park Rae, which is set to become one of the largest logistics and light industrial parks in the Baltics. The tender was organised by East Capital Real Estate AS, the third largest property manager in the Baltics, who selected Nordecon AS as the winner.

On 2 February, East Capital Park Rae and Nordecon signed a contract to build the first building of the 130,000 m² logistics and light industry park, planned for the 30-hectare site in Rae Municipality, near Tallinn, at Pähklimäe road 11.T The cost of the construction contract, which covers the construction of the first building and accompanying outdoor areas, is 15.8 million euros.

Park Rae is situated in an exceptional location for logistics – only a 15-minute drive from Tallinn`s city centre, in Rae Parish, with excellent access to the Tallinn ring road and the Tartu highway.

In the first phase, a 32,000 m² building will be constructed, of which approximately 1,200 m² will comprise office space that can be expanded according to tenants’ needs. The building permit has been obtained, and work will begin as soon as the working design is completed, aiming for spring 2026 with an ambitious target move-in date in first half of 2027.

Tanel Tamme, Head of Design and Construction at East Capital Park Rae, says, “The project aims to set a new standard in the market, both in terms of quality and innovative solutions. We are focusing not just on the development of commercial space, but on offering a comprehensive solution that combines logistics and light industry buildings with office space, as well as recreation areas. Our goal is to create a space that embodies the idea of ‘Designed for people. Built for tomorrow’ – a place where companies can create a comprehensive working environment by combining logistics and production with high-quality, modern office space that meets the standard of offices in central Tallinn, but at a more flexible price.”

Deniss Berman, Member of the Management Board of Nordecon:
“We are pleased to be working with the East Capital Real Estate team and to contribute to the development of a new logistics and industrial park that will set a new quality benchmark for the entire region. One of Nordecon’s key strengths is the construction of functionally well-thought-out business environments, and the first phase of the Park Rae project enables us to apply our previous experience to the fullest. Our objective is to create a sustainable, high-quality and long-lasting environment that delivers genuine value to both the developer and future users.”

Nordecon’s main activity is general contracting in construction and design. The company has extensive experience in the construction of buildings for various purposes, including commercial and retail buildings, apartment buildings, and public buildings. Nordecon’s strength lies in complex and technically demanding projects, through which the company contributes to the creation of higher quality, safer, and more sustainable public spaces throughout Estonia.

According to Martin Otsa, Investment Manager at East Capital Real Estate, Nordecon’s bid best met the criteria for the construction project. “The entire construction process will focus on sustainability and innovation, with great attention paid to energy efficiency, the use of sustainable materials, innovative design, and smart solutions that support employee well-being. The goal is to achieve LEED Platinum green certification, which has not yet been awarded to any logistics park in the Baltics. This will be an important step forward, setting the tone for the implementation of environmentally friendly solutions in the logistics sector.”

The 2024 architectural competition for the construction of the logistics park was also an innovative step for the logistics sector. The competition was won by the architectural company DAGOpen with their “EASTWOOD” submission. Other project participants include studio Argus, responsible for interior design solutions; Projektibüroo, playing a key role in general design; Inseneribüroo Telora, performing owner supervision; and Certify, advising on LEED certification matters.

The Park Rae development is a valuable addition to East Capital’s portfolio, strengthening the company’s position in the Baltic commercial real estate market. The project will also contribute to the local economic development of Rae Parish, creating new jobs and enhancing the business environment in the region.

Contact Information

Martin Otsa, Head of Investments, East Capital Real Estate
martin.otsa@eastcapital.com

Jessica Scott, Chief Marketing and Communications Officer, East Capital Group
mediaenquiries@eastcapital.com

 

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Bain Capital and FREO Group Announce Sale of Estel Building in Barcelona

BainCapital

Estel Building Barcelona

ONDON and BARCELONA — January 30, 2026 – Bain Capital, a leading global private investment firm, and FREO Group (FREO), an international investment and management firm, today announced the sale of the Estel Building located in central Barcelona to InmoCaixa, the real estate subsidiary of CriteriaCaixa.

The transaction, the largest in terms of value for a single property in the Barcelona office market to date, successfully completes the renovation and transformation of one of the city’s most iconic assets.

Since acquiring the building in 2021, Bain Capital and FREO have carried out a comprehensive renovation plan for the property, which included as its main aspects the structural renovation of the asset, creating single tenant floors of more than 5,000 sqm, various commercial premises, and numerous number of amenities for tenant use, including, highlighting a large auditorium with capacity for more than 300 people, a gym and two canteens, as well as a communal garden courtyard and a roof top with 360-degree views of the city of Barcelona.

The Estel Building, located at the intersection of Avenida Roma and Carrer de Mallorca, has a a gross leasable area of 52,000 sqm. Today, the building is over 93 percent leased to a mix of international technology and innovation tenants, AstraZeneca as the anchor tenant. It holds LEED and WELL Platinum certifications, along with WiredScore and SmartScore Platinum ratings.

This investment is part of Bain Capital’s Europe Real Estate strategy, which focuses on developing and repositioning high-quality assets in markets with limited supply. This transaction is also aligned with FREO Group’s approach

“The fundamental transformation of Estel represents our commitment to delivering best-in class assets, meeting ever increasing tenant demand, through local management and operational precision,” said Rafael Coste Campos, a Partner at Bain Capital. “We’re proud to have delivered a high-quality, sustainability-led asset, with our partners at FREO. This asset demonstrates our ability to deliver fundamental value to our investors through differentiated off-market sourcing, heavy CAPEX program, successful leasing and optimized exit, navigating a complex market environment.”

“This sale is the outcome of a full-cycle investment built on vision, partnership, and performance,” said Francisco Bello, an Operating Partner at Bain Capital. “We continue to see opportunity in high-barrier European markets where repositioning and thematic investment can unlock durable value.”

“At FREO Group, we are adding this major project to our track record of asset repositioning projects in Europe, generating significant value for the cities where they are located, the surrounding area and its residents, as well as for the tenants themselves, providing them with properties of the highest quality and services, and always committed to sustainability and technology,” said Jorge Gutiérrez, Managing Director of FREO Group.

Advisors
Bain Capital and FREO Group enlisted the architectural firm BCA for the design and project management, with Savills advising on the commercial aspects of the transaction and the firm Cuatrecasas for legal and tax advice.

ENDS

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, portfolio companies, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,900 employees, and approximately $215 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

About FREO Group
Established in 1996, FREO Group is an independent international investor, developer and manager of high-quality real estate. From 13 offices in Germany, the United Kingdom, France, Italy, Spain, Switzerland, Luxembourg and the USA, FREO has worked on more than 50 projects totaling in excess of 2 million square meters. Further information is available at www.freogroup.com.

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Apollo Provides €900 Million Refinancing for Pan-European Logistics and Industrial Portfolio Owned by Cerberus and Arrow Capital Partners

Apollo logo

Bespoke, senior secured solution to refinance institutional-quality portfolio and consolidate lender base

NEW YORK, Jan. 29, 2026 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Apollo-managed funds have completed an approximately €900 million senior secured financing of a pan-European logistics and industrial portfolio owned by a joint venture between an affiliate of Cerberus Capital Management (“Cerberus”), a global alternative investment manager, and Arrow Capital Partners (“Arrow”), a specialist investor, credit provider, developer and manager of real estate in Europe and Asia-Pacific .

The investment, split among three separate senior loan facilities, will primarily refinance existing debt of the Strategic Industrial Real Estate (“SIRE”) platform, a joint venture between Cerberus and Arrow. The portfolio comprises 92 institutional-quality assets totaling more than one million square meters of urban and mid-box logistics and industrial space. The portfolio has a diversified tenancy base anchored by long-term, investment grade occupants and is located across key, high-demand European distribution corridors in the UK, Germany, the Netherlands, Spain, Ireland, and Poland.

Ben Eppley, Partner and Head of Real Estate Credit, Europe at Apollo, said, “This bespoke solution refinances a diversified, high-quality portfolio of strategically located logistics and industrial assets, which benefit from resilient demand and supply dynamics. We continue to see strong interest from sponsors seeking holistic, single lender solutions where we can transact with certainty and scale.”

Julio Dominguez, Head of European Financings at Cerberus, commented, “Apollo’s investment reflects the strong market recognition of the value we have built across our SIRE platform. With a high-quality portfolio and robust market fundamentals, this refinancing supports our commitment to advancing our strategy across Europe.”

Apollo’s Real Estate Credit business continues to be one of the most active non-bank lenders across Europe. Other recent investments include senior financing for a UK portfolio of purpose-built student accommodation assets as well as senior financing for Shadowbox Studios’ Shinfield Studios, a new major film and TV production hub in the UK.

Gibson Dunn and Greenberg Traurig acted as legal counsel to the Apollo funds. Eastdil advised Cerberus, and Linklaters acted as legal counsel to Cerberus.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2025, Apollo had approximately $908 billion of assets under management. To learn more, please visit www.apollo.com.

About Cerberus

Founded in 1992, Cerberus is a global alternative investment firm with approximately $70 billion in assets across complementary credit, real estate, and private equity strategies. Cerberus invests across the capital structure where it believes its integrated investment platforms and proprietary operating capabilities can help improve performance and drive long-term value. Cerberus’ tenured teams have experience working collaboratively across asset classes, sectors, and geographies as they seek to achieve strong risk-adjusted returns for investors. For more information, visit www.cerberus.com.

About Arrow Capital Partners

Arrow Capital Partners is a private real estate company which invests in equity and debt opportunities specialising in cross-border transactions where it can use its platform and balance sheet to invest with its US and Asia-Pacific capital partners into Europe, as well as European and US investors into the Asia-Pacific region.

Arrow has eight offices covering those markets, with assets of over $5bn across office and logistics assets, including developments. The Partners each have a minimum of 20 years investment experience and have been responsible for overseeing US$25bn across all asset classes in multiple jurisdictions, plus a US$8bn development pipeline. Additional information can be found at: www.arrowcapital.co.uk.

Apollo Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

Cerberus Contacts

Jason Ghassemi
Chief Communications Officer
Communications@cerberus.com

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Ardian and Rockfield add 1.500 beds to Its Pan-European PBSA Strategy with Three Major Transactions in France, Spain and Italy

Ardian

Ardian and Rockfield signed the forward acquisition of a new 427-bed project in Milan, the forward acquisition of a 327-bed project in Bordeaux and acquired a 750-bed standing asset in Barcelona.
● Bordeaux marks the first investment in France for Ardian and Rockfield’s PBSA strategy.
● Since its launch in Q4 2024, Ardian and Rockfield’s PBSA strategy has completed 12 transactions, representing ca. 6,000 beds in Europe’s main university hubs, positioning Ardian and Rockfield as one of the leading Continental European PBSA investors.

Ardian, a global private investment firm, and Rockfield, Europe’s top-tier vertically integrated living platform, announce a significant acceleration of their Purpose-Built Student Accommodation (PBSA) strategy with the recent signing of three major transactions across Italy, France and Spain.

The strategy has been very active investing across the continent since launching in Q4 2024. Looking ahead to 2026, there is a strong, advanced pipeline across the various countries, suggesting that the investment pace will continue to be as active as this year.

First Acquisition in France: A 327-bed PBSA Project in Bordeaux
Ardian and Rockfield have signed the acquisition of a 327-bed project in the Bastide Niel eco-district of Bordeaux, marking their first PBSA transaction in France. The asset acquired from Legendre Immobilier under a forward-purchase structure (VEFA), will welcome its first students in 2028. The project includes more than 500 sqm of common areas (coworking, lounge, gym, gaming room, shared kitchens, bike storage, terraces) and over 1,000 sqm of landscaped gardens.

It aims to meet the highest environmental standards: NF HQE 7*(Excellent), RE2020 compliance, EPC B, and solar panels meeting a large proportion of the development’s energy needs.
Located in the Bastide Niel eco-district, a mixed-use redevelopment area, the property is a 5-minute walk from key public transport routes, with direct access to the city centre.

Bordeaux is the 5th largest student city in France, with over 100,000 students in the city and its surroundings, and yet it remains one of the most undersupplied in terms of student housing. This project will aim to deliver both social value and long-term economical resilience.

Barcelona – Aparto Pallars is a 750-bed student residence located in Barcelona’s 22@ innovation district
Ardian and Rockfield have acquired Aparto Pallars, a 750-bed residence located in the 22@ innovation district. The asset, spread across five interconnected buildings and operational since 2022, enjoys a strategic location near several higher education institutions, including Pompeu Fabra University and Toulouse Business School. This marks the PBSA’s strategy third acquisition in Spain and consolidates the partnership’s presence as one the leading investors in the region. Leveraging our capabilities to deliver multiple typologies and more affordable price points across two state-of-the-art projects, we are able to meet diverse student needs while strengthening our presence as one of the leading investors in the region.

Milan – Project Certosa, a highly strategic addition to Ardian’s PBSA portfolio 
Ardian and Rockfield are strengthening their presence in Italy with the signing of a preliminary agreement for the forward acquisition of a new 427 bed project in viale Certosa, Milan. With this transaction the platform reaches a portfolio of 2.000 beds in Italy, positioning itself as a market leader. The seller is an SPV jointly owned by Keystone Investments and Mediterranea Immobiliare.

Located in a rapidly evolving urban district, the asset will be transformed into a sustainable student residence with excellent connectivity to Milan’s Bovisa Politecnico University. The building will be redeveloped into a state-of-the-art PBSA scheme, offering a wide range of high-quality amenities — including study rooms, indoor and outdoor gyms, padel and basketball courts, a cinema room, games areas and landscaped communal spaces — all designed to foster wellbeing, social interaction and a balanced student lifestyle. The project targets LEED Gold and EPC A environmental certifications. This transaction further cements the platform’s conviction for the Italian market, adding to an already strong portfolio, which includes assets in Florence, Bologna, and Milan, some of Europe’s most supply-constrained student markets.

“Our first PBSA investment in France represents a key milestone for our pan-European student housing platform. As the continental European country with the largest student population and a clear need for high-quality student accommodation, France offers strong fundamentals for investment in the sector. Bordeaux combines strong academic momentum driven by a structural need for new accommodation solutions. The project perfectly reflects the fund’s strategy: developing sustainable and innovative assets, in excellent locations, that meet the expectations of new generations.” Omar Fjer, Head of Real Estate France and Managing Director, Ardian.

“Adding 1,500 units simultaneously via 3 selective transactions to our growing portfolio strengthens our footprint in Europe – and in particular reflects our first step in France. It is interesting to see that such a deep market with urgent demand heavily lacks high-quality supply. We see a window of opportunity and are actively sourcing both operating and forward deals in the major French PBSA markets, as we aim to scale our French portfolio as part of our European portfolio materially over the coming years.” Mats Bartels, Investment Director Northern Europe, Rockfield.

“The acquisition of the new project in Viale Certosa represents an important step forward in our commitment to developing high-quality student accommodation in Italy’s main university cities. Milan, like Florence and Bologna, is among the most dynamic markets in Europe and faces a significant structural shortage of supply. This new investment brings the platform’s PBSA portfolio in Italy to a total of 2,000 beds, further strengthening our presence and our ability to address a real and growing need in the country. The acceleration of our PBSA strategy in Italy and across Europe confirms the strength of our platform and our long-term conviction in the sector’s growth potential.” Luca Migliaccio, Managing Director Real Estate, Ardian.

“This acquisition exemplifies the strength of our pan-European PBSA strategy and our belief in Barcelona’s innovation districts as key nodes for resilient, future-proof capital deployment. We see continued upside through active asset management, best-in-class operations and the delivery of sustainable, community-oriented living environments that appeal to today’s students and institutional investors alike.” Josep Bellmunt, Investment Director Southern Europe, Rockfield.

Participants List

  • Bordeaux

    • Ardian and Rockfield were advised by Linklaters, Arsène Taxand, C&C Notaires, Mindston Capital, Auris and Park Associati
    • Architects: MVRDV | CoBe

  • Barcelona

    • Ardian and Rockfield were advised by Linklaters, CBRE, and Garrigues
    • Commerz Real was advised by Savills and Cuatrecasas

  • Milan

    • Ardian and Rockfield were advised by Studio Inzaghi, Yard Reaas, Pedersoli Gattai, Joivy
    • Mediterranea Immobiliare S.p.A. and Keystone Investments s.r.l. were advised by Advant NCTM, Vitale&Co. S.p.A., Nasini Architetti

ABOUT ARDIAN

In a world of constant evolution, Ardian stands out for its ability to anticipate, adapt, and turn challenges into opportunities. As a global, diversified private markets firm with 22 offices and more than 350 investment professionals worldwide, we provide investment and customized solutions that reflect new economic dynamics and help our clients remain resilient in a changing world.
We deliver multi-local expertise and long-term performance for our investors and partners as well as shared value for the broader society. Since Ardian’s inception in 1996, our pioneering approach to diversification and our ability to offer tailor-made solutions at scale have remained the heart of our strategy.
Through commitment, knowledge and technology, we bring lasting value to our companies and contribute positively to the whole industry.
Ardian currently manages or advises $196bn for more than 1,890 clients worldwide across Private Equity, Real Assets, and Credit.
Ardian. Mastering change for lasting value.

ardian.com

ABOUT ROCKFIELD

Rockfield Real Estate is Europe’s top-tier vertically integrated investment, development, and operating platform specializing in European residential real estate. Founded in 2014, the firm has built a strong presence, first in the Netherlands and now across Continental Europe. Managing +€2.5 billion in current active assets under management, Rockfield oversees +9,000 residential units and has developed +10,000 homes.

Catering to institutional clients, the firm leverages its expertise in sustainable and future-proof real estate, with a strong focus on ESG principles. Rockfield’s entrepreneurial mindset enables it to identify and execute high-quality investment opportunities. Looking ahead, Rockfield remains committed to creating enduring value for stakeholders and positively shaping communities through its forward-thinking residential real estate strategies.

Media contacts

Ardian

HEADLAND

ardian@headlandconsultancy.com

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CapMan Real Estate and Holiday Club sign a 20-year lease agreement for Oulu Eden – the spa hotel to be fully refurbished and reopened in the first half of 2027

Capman

CapMan Hotels II, a fund managed by CapMan Real Estate, and Holiday Club Resorts have signed a new 20‑year lease agreement for Holiday Club Oulu Eden. The agreement launches a major refurbishment and redevelopment project aimed at returning Oulu Eden to active hotel, spa and conference use, and transforming it into an attractive destination for leisure and business travellers alike.

As part of the extensive redevelopment, Oulu Eden will reopen as a highly attractive travel destination within the rapidly developing Nallikari area. The hotel’s experience spa, sauna world, accommodation and restaurant concepts will be completely renewed, and the service offering will be enhanced to meet the needs of both leisure guests and corporate clients.

The renovation will be carried out in phases. The extensive refurbishment is scheduled for completion during the first half of 2027, after which the property will reopen as a fully renewed Holiday Club spa hotel.

“Oulu Eden has always played an important role for the city of Oulu and for tourism in the region. I am extremely pleased that Eden will be brought back into active use as a modernised, renewed and more energy‑efficient destination. This redevelopment is a significant step both for the future of the property and for the development of tourism in the area. It is great to execute this project together with a strong and long-standing partner,” says Noora Kuvaja, Investment Director, CapMan Real Estate.

“We are truly excited to redevelop Oulu Eden into a highly attractive travel destination and to bring it back as part of Holiday Club’s offering in Finland. We are returning to Oulu after almost 15 years, and I believe the completely renewed experience spa, the redesigned sauna world and the new restaurant concepts will attract not only local visitors but also domestic and international travellers. The beautiful coastal setting of Nallikari and the strong appeal of the City of Oulu provide an excellent foundation for Eden’s future development,” says Maisa Romanainen, CEO, Holiday Club Resorts.

Key facts – Holiday Club Oulu Eden

  • 170 rooms
  • Renewed experience spa and new sauna world
  • Attractive restaurant concepts
  • Meeting facilities for up to 500 guests

Further information

Noora Kuvaja, Investment Director, CapMan Real Estate, +358 40 522 8272
Maisa Romanainen, CEO, Holiday Club Resorts, +358 50 388 9686

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and 7.1 billion euros in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, real asset debt, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London, Luxembourg, and Düsseldorf. We are listed on Nasdaq Helsinki since 2001. www.capman.com.

About Holiday Club Resorts

Holiday Club Resorts is one of the leading tourism and leisure housing companies in Finland, with operations also in Sweden and the Canary Islands. The company operates more than 30 destinations, including several full‑service spa resorts and over 2,200 holiday apartments, alongside more than 1,000 hotel rooms. Its resorts offer a wide range of services, from spa experiences and restaurants to sports and leisure activities. Each year, over one million holidays are spent at Holiday Club destinations, and the company has more than 120,000 holiday week owners. Holiday Club Resorts is owned by Mahindra Holidays & Resorts India Ltd., part of the Indian Mahindra & Mahindra conglomerate.

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Bain Capital Agrees Sale of Cora Resort and Spa in Greece to Fattal Hotel Group

BainCapital

LONDON and ATHENS, January 19, 2026 – Bain Capital, a leading global private investment firm, today announced the completion of the sale of Cora Resort and Spa, a five-star, 181-room resort in Afytos, Chalkidiki, Greece, to Fattal Hotel Group.

The investment was managed by Bain Capital’s Special Situations team in Europe and showcases the firm’s hands-on asset management capabilities in hospitality, spanning origination, development, operations and exit.

Bain Capital led a substantial refurbishment and repositioning of the hotel, supported by a €24 million investment programme, transforming the asset into a five-star destination resort with multiple restaurants and bars and a dedicated wellness centre. The property opened in July 2023 and has benefited from active operational oversight, including a management transition in 2024 that improved overall performance.

Rob Mangan, an Operating Partner at Bain Capital, said: “Together with our local partners, we took a very hands-on approach at Cora, executing a major refurbishment and repositioning programme and then actively managing the operations to drive performance. The result is a high-quality, five-star resort in one of Greece’s most attractive leisure markets. This sale reflects sustained investor appetite for well-located, well-invested hospitality assets, and we are pleased to hand the property to an owner with deep sector experience.”

Guy Vardi and Yaniv Amzaleg, M&A Managing Directors at Fattal Hotels, said: “Greece and the wider Mediterranean basin have shown exceptional performance in recent years, and expanding our footprint in this market remains a strategic priority. This asset, which will be rebranded as Meravia Hotel by Leonardo Limited Edition, represents a unique opportunity to introduce a high-end product in one of the most exciting hospitality markets today. Over the past three years, we have acquired more than 50 hotels across Europe and raised approximately €1 billion through our European partnerships to support our expansion strategy.  We would like to thank Bain Capital for their partnership throughout this acquisition process as we continue to pursue new opportunities in Southern and Western Europe.”

Bain Capital has extensive experience across hospitality at both the corporate and asset level, with a European track record of 8,200 keys across 54 properties in seven countries.

Advisors
Bain Capital: Karatza Partners (Legal)
Hotel was operated by SWOT Hospitality under Bain Capital ownership.
Fattal Hotels: Zepos & Yannopoulos (Legal) and EY (Financial)

About Cora Resort and Spa
Cora Resort and Spa is a five-star, 181-room resort located in Afytos, Chalkidiki, Greece, offering multiple restaurants and bars and a dedicated wellness centre.

About Fattal Hotels Group 
Fattal Hotels is a rapidly growing international hotel group that owns and operates over 320 hotels across more than 120 destinations worldwide, encompassing over 55,000 rooms. With a strong presence in 21 countries, including Germany, the UK & Ireland, Poland, Israel, Spain, the Netherlands, Austria, Italy, Greece, Cyprus, and France, the group continues to expand its global footprint across fantastic locations.

Fattal Hotels offers a diverse portfolio of accommodations, featuring leading brands such as Leonardo Hotels, Leonardo Royal Hotels, NYX lifestyle hotels, and all-inclusive resorts under the Leonardo banner. Additionally, its Leonardo Limited-Edition collection showcases a selection of uniquely curated and beautifully designed hotels, and Master collection of serviced apartments.

About Bain Capital 
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, portfolio companies, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,900 employees, and approximately $205 billion in assets under management. To learn more, visit baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

 

Media Contacts

 

 Charlyn Lusk (646) 502 3549 clusk@stantonprm.com

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Ahold Delhaize USA Announces Strategic Investment from Blackstone Credit & Insurance to Advance State-of-the-Art Distribution Center in Burlington, N.C.

Blackstone

SALISBURY, N.C. – Leading grocery retail group Ahold Delhaize USA today announced a definitive agreement under which funds managed by Blackstone Credit & Insurance will invest $475 million in connection with a triple net lease transaction to construct a highly automated grocery distribution center in Burlington, N.C.

Under the triple net lease agreement, Blackstone Credit & Insurance will own the facility and fund 100% of in-scope construction costs. Once construction is complete, Ahold Delhaize USA will lease the facility for long-term use, with an option to purchase the site in the future under pre-agreed terms.

“We are pleased to support Ahold Delhaize USA and enable a critical long‑term investment in its U.S. supply chain,” said Christopher Yonan, Head of European Infrastructure, Blackstone Credit & Insurance. “This investment reflects our focus on partnering with leading investment grade corporations globally by providing flexible, low-cost capital through our credit and insurance platform.”

Ahold Delhaize USA and ADUSA Distribution previously announced plans in October 2025 to develop an $860 million, highly automated distribution center in Burlington, N.C. (Guilford County). The facility is expected to add more than one million square feet of additional distribution infrastructure, delivering fresh and frozen grocery items to Food Lion stores.

“Ahold Delhaize USA, along with ADUSA Distribution, is proud to partner with Blackstone Credit & Insurance on this new distribution center,” said JJ Fleeman, CEO, Ahold Delhaize USA. “Through the new distribution center, ADUSA Distribution and ADUSA Transportation will expand their capacity to support Food Lion’s growth in the state, along with bringing new jobs. We continue to be very excited about locating this facility in North Carolina as we grow our presence in a state where our companies have done business for more than 65 years.”

The investment is structured to align the timing of costs with the long-term benefits of the facility. The long-term lease approach supports a project of this scale, reduces refinancing risk and enables Ahold Delhaize USA to deploy capital efficiently to advance major infrastructure investments.

Construction of the new facility is expected to begin in the first quarter of 2026, with an anticipated start of operations in 2029. The site is expected to employ over 500 associates within ADUSA Distribution and ADUSA Transportation companies over time.

J.P. Morgan acted as exclusive financial advisor to Ahold Delhaize USA and A&O Shearman served as legal counsel to Ahold Delhaize USA. Milbank LLP acted as legal counsel to Blackstone Credit & Insurance.

About Ahold Delhaize USA 
Ahold Delhaize USA, a division of global food retailer Ahold Delhaize, is part of the U.S. family of brands, which also includes five leading omnichannel grocery brands: Food Lion, The GIANT Company, Giant Food, Hannaford and Stop & Shop. When considered together, the companies of Ahold Delhaize USA comprise the largest grocery retail group on the East Coast and the fourth largest in the nation, serving 26 million omnichannel customers each week. For more information, visit www.adusa.com.

About Blackstone Credit & Insurance
Blackstone Credit & Insurance is one of the world’s leading credit investors. Our investments span the credit markets, including private investment grade, asset-based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending and opportunistic credit. We seek to generate attractive risk-adjusted returns for institutional and individual investors by offering companies capital needed to strengthen and grow their businesses. BXCI is also a leading provider of investment management services for insurers, helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit.

Blackstone Credit & Insurance’s Infrastructure and Asset Based Credit group manages over $100 billion and has over 80 investment professionals, as of September 30, 2025. The platform is focused on providing investment grade credit, non-investment grade credit and structured investments across the real economy in sectors such as infrastructure, commercial finance, fund finance, consumer finance and residential real estate loans.

Media Contact
mediarelations@adusa.com

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Bain Capital Real Estate Closes on $5 Billion in New Capital, Expanding Scale Across High-Conviction Strategies

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Firm completes fundraising for Real Estate Fund III, with $3.4 billion in commitments

BOSTON – January 13, 2026 – Bain Capital today announced the close of more than $5 billion in new capital across its real estate strategies, including the completion of fundraising for Bain Capital Real Estate Fund III (“Fund III” or the “Fund”), with approximately $3.4 billion in total commitments. Fund III received significant support from a diverse group of new and existing limited partners globally, and includes $300 million from Bain Capital employees and alumni, underscoring the firm’s long-standing commitment to ensuring alignment with its investors.

The final close of Fund III follows Bain Capital Real Estate’s recent $1.6 billion capital raise alongside 11North Partners, which will invest through their co-owned, open-air, necessity-based retail operating platform. Together, these raises, along with additional co-investments, represent more than $5 billion of investible capital across Bain Capital Real Estate strategies, enhancing the firm’s ability to invest selectively and at scale across its highest-conviction themes. These successful capital formation efforts represent a significant increase over the $3 billion in total commitments raised by Bain Capital Real Estate Fund II.

Fund III continues to reflect Bain Capital Real Estate’s research-driven, thematic investment approach, providing curated exposure to sectors that complement traditional real estate portfolios. The team invests behind long-dated secular trends, partners with experienced operators through dedicated platforms, and maintains a disciplined, flexible approach as market conditions, pricing, and liquidity evolve. Within that framework, Fund III is focused primarily on value-add opportunities in demand-driven, supply-constrained, and often hard-to-access sectors where active ownership and operational improvement can drive accelerated performance. Core areas of focus include urban infill industrial, open-air retail, leisure and hospitality, medical outpatient buildings, for-rent townhomes, senior housing, marinas and storage facilities, and digital real estate assets.

“We are grateful for the continued support of our limited partners and their conviction in our strategy and growing platform, which has delivered strong performance through one of the most challenging real estate cycles in decades,” said Ryan Cotton, Partner and Head of Bain Capital Real Estate. “Our thematic focus, underpinned by rigorous analysis and collaboration across Bain Capital’s platform, combined with disciplined selectivity and active management, positions us well to invest successfully across cycles. Looking ahead, we believe we are competitively advantaged to capitalize on long-term secular trends driven by changes in how people live, work, and spend, and we remain committed to building enduring partnerships with investors and operators who share our long-term view.”

The Bain Capital Real Estate team has built a differentiated sourcing edge, including the ability to originate opportunities off market by leveraging Bain Capital’s platform advantages, thematic insights, and experience executing complex transactions. Further, the team has strengthened its capabilities through the recent establishment of real estate-dedicated Asset Management, Debt Capital Markets, and Investor Relations functions. Notable recent investments include the acquisition of a leading private golf club platform in partnership with Bain Capital Private Equity; the acquisition of a portfolio of 10 open-air retail centers across Florida and South Carolina, most of which are anchored by Publix; the acquisition of an industrial portfolio primarily located in Northern New Jersey; the acquisition of Boathouse Marine Center, a dry-stack marina in Pompano Beach, Florida; and the acquisition of an approximately 122,000 square-foot medical outpatient facility in the Washington, DC metropolitan area.

About Bain Capital Real Estate
Bain Capital Real Estate pursues investments in often difficult-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services. The Bain Capital Real Estate team has invested and committed over $10.7 billion of equity across multiple sectors as of September 30, 2025. Bain Capital Real Estate focuses on assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate’s strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm’s global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities. Bain Capital is one of the world’s leading private investment firms, with approximately $215 billion of assets under management. For more information, visit https://www.baincapitalrealestate.com.

 

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EQT Real Estate acquires a portfolio of four high-quality logistics assets in Northern Italy

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EQT Real Estate acquires a portfolio of four high-quality logistics assets in Northern Italy

  • EQT Real Estate has acquired a logistics portfolio totalling approximately 107,000 square metres, located in key Italian markets including Milan, Bologna and Verona
  • Assets offer long-term income with significant value creation opportunities, supported by Grade A technical specifications and strong sustainability credentials
  • Transaction strengthens EQT Real Estate’s exposure to the Italian logistics market, one of Europe’s most attractive and supply-constrained markets

EQT is pleased to announce that the EQT Exeter Europe Logistics Core-Plus Fund II (“EQT Real Estate”), has acquired a high-quality logistics portfolio comprising four assets (the “Properties”) located in the key Northern Italian submarkets of Milan, Bologna and Verona. The assets will be acquired by Kryalos SGR S.p.A on behalf of EQT Real Estate.

The Properties, totalling approximately 107,712 sqm and which are fully let to a strong, diversified tenant base, comprise modern, institutional-quality logistics assets. The portfolio benefits from excellent connectivity to core distribution locations via key motorways, including the A1, A4 and A22, providing access to major population centres and a catchment area of more than 20 million inhabitants. 

The transaction further enhances EQT Real Estate’s exposure to the Italian logistics market, which continues to benefit from attractive structural trends and favorable supply-demand dynamics shaping market conditions. The acquisition reflects EQT Real Estate’s confidence in the Italian logistics sector’s long-term prospects and its ability to generate long-term value through active asset management and sustainability-led initiatives.

Greg Vinson, Partner at EQT Real Estate, said: “The transaction fits perfectly within our Core Plus strategy’s objective to acquire highly reversionary, modern logistics assets that offer long-term lease stability, stable income and significant value creation opportunities. As the Italian logistics market remains resilient, driven by demand for Grade A and sustainability-compliant warehouses, we are thrilled to be expanding our exposure and further drive value in the Properties that are well-connected to some of Italy’s fastest-growing cities”.

EQT Real Estate was advised by Legance (tax and legal), Howden (insurance), Arcadis (technical).

Contact
EQT Press Office, press@eqtpartners.com

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About EQT Real Estate
EQT is a purpose-driven global investment organization with EUR 267 billion in total assets under management (EUR 139 billion in fee-generating assets under management) as of 30 September 2025, divided into two business segments: Private Capital and Real Assets. EQT supports its global portfolio companies and assets in achieving sustainable growth, operational excellence, and market leadership. Within EQT’s Real Assets segment, EQT Real Estate acquires, develops, leases, and manages logistics and residential properties in the Americas, Europe, and Asia. EQT Real Estate manages about $58 billion in GAV, owns and operates over 2,000 properties and 400 million square feet, with over 400 experienced professionals across 50 locations globally.

More info: www.eqtgroup.com
Follow EQT Real Estate on LinkedIn

About Kryalos
With €13.8 billion of AuM and a team of 125 professionals, Kryalos is one of the most active players in the Italian real estate market. The company offers transaction management, real estate and credit fund management, development and advisory services and is a partner of Italian and international leaders. Further information on www.kryalossgr.com

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