CapMan's Nordic Real Estate II fund has sold a portfolio of 11 care properties in Finland to Swedish property owner Hemfosa Fastigheter.
The transaction, whose amount was not disclosed, is the fund’s first exit.
The portfolio offers a total leasable area of 20,900 m2 and the properties are located mainly in growing municipalities in Finland. The assets are fully leased under long-term lease agreements.
'We are pleased to have completed the first exit from CapMan Nordic Real Estate II fund, which is still in its investment phase. The development of this sizeable portfolio of modern care homes in such a short time and to exit it now to a professional long-time community service property owner meets the targets of our value-add strategy well,' commented Juhani Erke, partner, head of CapMan Real Estate Finland.
Launched in 2017, the €425 mln CapMan Nordic Real Estate II fund mainly invests in office, residential and retail properties located in established submarkets of major Nordic cities and selectively in real estate sectors supported by prevailing megatrends.