CapMan Real Estate's Fund III has agreed to acquire a large, single-let industrial property in Köping, Sweden, for an undisclosed amount.
The vendor, which is believed to be automotive manufacturer Volvo, has agreed to lease back the asset with a term of only four years, after which the property will be vacated.
The asset consists of 60,000 m2 of land and 35,000 m2 of industrial and storage space.
This is the second industrial asset which CapMan Nordic Real Estate has bought in the Mälardalen area following the purchase of the Assa lock factory in Eskilstuna in 2018.
'This property is an excellent addition to our growing third value-add fund and it further strengthens our position in the Mälardalen area,' said Anna Reuterskiöld, partner and head of CapMan Real Estate Sweden.
CapMan Real Estate currently manages a total of €3.6 bn in real estate assets, with a 50 staff based in Helsinki, Stockholm, Copenhagen, Oslo and London.
CapMan Nordic Real Estate III Fund, the team’s third Nordic value-add fund, was launched in September 2020 and has completed the final close at €564 mln, exceeding its target size of €500 mln and reaching its hard cap.
JLL advised the vendor.