CapMan Real Estate acquires highly visible office building in northern Stockholm area in renovation and lease-up scheme
CapMan Real Estate press release 11 December 2020 at 3.15 p.m. EET
CapMan Real Estate acquires highly visible office building in northern Stockholm area in renovation and lease-up scheme
CapMan Nordic Real Estate III Fund has agreed to acquire Sadelplatsen 1, a vacant office building in Järva Krog, Solna, from Fabege in an off-market transaction.
The 6,360 sqm property consists mainly of office and showroom space as well as a parking facility and is currently 94% vacant. CapMan is evaluating various plans for the development of the property, which, due to its flexibility, could suit many different types of tenants. Solna is one of the strongest office locations in the Stockholm region due to its supply of modern offices, proximity to central Stockholm as well as the northern Stockholm suburbs. Järva Krog has excellent access to public transport as well as the E4 motorway and is currently undergoing strong commercial and residential development, which will further improve the attractiveness of the area.
“We are very pleased with the acquisition and with the prospect of tailoring the asset to fit today’s requirements and expectations for office space. Our team has a lot of experience from similar renovation and lease-up cases in Solna. We have already initiated lease discussions and gained strong interest from several potential tenants,” says Anna Reuterskiöld, Partner and Head of CapMan Real Estate Sweden.
CapMan’s Real Estate team comprises over 40 real estate professionals in Helsinki, Stockholm, Copenhagen and Oslo. CapMan Real Estate currently manages a total of EUR 2.8 billion in real estate assets. The team was awarded UK & European Opportunistic Property Manager of the Year at the 2020 Professional Pensions Investment Awards.
CapMan Nordic Real Estate III Fund, the team’s third Nordic value-add fund, was established in September 2020 and has raised EUR 449 million to date with a target size of EUR 500 million. The acquisition is the fund’s fifth transaction.
For further information, please contact:
Anna Reuterskiöld, Partner, Head of CapMan Real Estate Sweden, tel. +46 731 54 22 31
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. Our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.