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.