CapMan Real Estate holds the first and final closing of CapMan Nordic Real Estate II (CMNRE II), its second pan-Nordic value-add fund, at €425m of equity commitments from Nordic, European and US institutional investors. With leverage CMNRE II reaches an investment capacity of over €1bn to be invested primarily across the office, retail and residential sectors in the most liquid real estate markets in the Nordics following the successful strategy of its predecessor fund.
With continued support from the investors in the previous fund and a strong demand from new investors, CMNRE II quickly became oversubscribed. In line with the previous fund, the investors are equally distributed from the Nordics, the rest of Europe and the US, with each region representing roughly a third of the invested capital. The fund has a total of 30 investors.
CMNRE II follows the proven investment strategy of its predecessor fund by focusing on established office submarkets; necessity anchored retail; and residential opportunities in the capital cities as well as other growth centres in Sweden, Finland, Denmark and Norway. CMNRE II will also selectively invest in other real estate sectors supported by increasing urbanization, changing demographics and other prevailing macro themes.
"We are extremely pleased for the strong support from both our existing and new investors. Our disciplined and prudent investment approach towards selecting the best assets and managing them hands-on by our local teams has provided great results over time. We continue to see interesting opportunities throughout the Nordics in our focus areas and believe we can continue providing good returns to our investors by maintaining our disciplined approach," says Mika Matikainen, Managing Partner of CapMan Real Estate.