CapMan Real Estate acquires the historic Cavonius building on Pohjoisesplanadi in Helsinki CBD
CapMan Real Estate press release 15 May 2019 at 10.00 a.m. EEST
CapMan Real Estate acquires the historic Cavonius building on Pohjoisesplanadi in Helsinki CBD
CapMan Nordic Real Estate II fund acquires the Cavonius building, an office and retail property located at Pohjoisesplanadi 21, Helsinki. The property is already the fund’s third acquisition to its City Pearls portfolio investing in prime and unique office and retail properties in central Helsinki.
Originally designed by Carl Ludvig Engel and constructed in 1820, the building is one of the oldest in the Helsinki city centre. The extensions designed by Kiseleff & Heikel and Sebastian Gripenberg were constructed between 1882 and 1883. The building has since been refurbished and modernised. The approx. 2,300 sqm and four storey building is located next to the Esplanade park on the premier high street Pohjoisesplanadi known for its numerous restaurants, high-class shops and office premises.
”We are very pleased with the acquisition of this exclusive property. Such properties located in the absolute heart of the Helsinki central business district are rarely available. This unique property is perfectly in line with the investment strategy of CapMan Nordic Real Estate II fund. The property is almost fully let and provides excellent possibilities to further develop it for future business and commercial needs”, comments Sampsa Apajalahti, Investment Director at CapMan Real Estate.
Pohjoisesplanadi 21 is the thirteenth acquisition of the €425 million Nordic Real Estate II fund raised in 2017. The focus of the fund is to invest mainly in office, retail and residential properties located in established submarkets of major Nordic cities. In autumn 2018, the fund acquired two office properties in central Helsinki: Pieni Roobertinkatu 11 and Korkeavuorenkatu 30. Together with Pohjoisesplanadi 21, these properties form the City Pearls portfolio, which is a collection of superior office and retail properties in central Helsinki.
CapMan Real Estate includes 30 dedicated professionals in the field of investment, asset management and property management. CapMan’s current real estate volume under management is over EUR 2.5 billion.
For further information, please contact:
Sampsa Apajalahti, Investment Director, CapMan Real Estate, tel. +358 40 575 2363
Juhani Erke, Head of CapMan Real Estate Finland, tel. +358 50 549 5104
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 140 people in Helsinki, Stockholm, Copenhagen, London, Moscow and Luxembourg.
