Bayerische Versorgungskammer (BVK), Germany's largest pension scheme group, increases the investment volume of the fund advised by CapMan Real Estate to €500m. The volume increase follows the recent transactions in Denmark.
"We are extremely pleased and delighted to see the continued trust from BVK in our investment team's capabilities in the Nordics. We look forward to continuing our strong co-operation for the years to come," says Mika Matikainen, Managing Partner of CapMan Real Estate.
Under its broad mandate, CapMan will source, advise transactions as well as manage the assets for the BVK fund in Sweden, Denmark, Finland and Norway. Recently CapMan Real Estate advised the fund on two more acquisitions in Denmark: a newly built well-performing asset in Copenhagen and a forward purchase project in Aarhus.
"We are very pleased with the third and fourth investments under the BVK mandate. Both Copenhagen's and Aarhus' residential markets are attractive due to strong underlying population growth and urbanisation. The combined volume of the deals was c. €125m which takes the committed investment volume of the mandate to c. €300m. We have a strong pipeline for further acquisitions," comments Sampsa Apajalahti, Investment Director at CapMan Real Estate.
"I am very happy about the expansion of the BVK mandate. We have strong know-how in our Real Estate team when it comes to Nordic real estate and the co-operation with BVK demonstrates our ability to serve international customers," says Joakim Frimodig, CEO of CapMan.
The fund advised by CapMan is an institutional real estate fund on the platform of Universal-Investment, administered and managed on behalf of BVK.
CapMan Real Estate currently has over €1.7bn of assets under management and the first fund was established in 2005.