CapMan inks significant residential deal in Helsinki

CapMan Real Estate has completed the acquisition of a residential portfolio from Finnish fund manager Icecapital and its local investors for a fund on behalf of Bayerische Versorgungskammer (BVK), Germany’s largest public pension fund group.

Financial details were not disclosed, but CapMan said the deal brought the investment volume of its BVK mandate to around €820 mln, invested mostly in the Helsinki metropolitan area, Copenhagen and Aarhus.

'We’re very pleased to add this high-quality portfolio to the BVK fund and continue to see increasing interest from international investors for Nordic residential properties,' said Sampsa Apajalahti, investment director at CapMan Real Estate.

The Icecapital housing fund III portfolio comprises 37 residential assets and 1,740 apartments with a combined area of some 100,000 m2. The apartments are located chiefly in the Helsinki Metropolitan Area. The off-market transaction was sourced by CapMan.

'The growth of the mandate is an excellent example of the confidence that international institutions have in CapMan’s local expertise. Investment mandates are part of CapMan’s strategy for servicing a broader customer base through our platform of local investment experts,' added Joakim Frimodig, CapMan’s CEO.

CapMan said it would continue to advise the fund on sourcing and managing transactions in the Nordics. The mandate is a real estate fund held on the platform of Universal-Investment.


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