CapMan Nordic Real Estate fund acquires an office building on Ruoholahdenkatu 4 in Kamppi, Helsinki from Lapis Rakennus Oy. CapMan Real Estate intends to convert the building into residential use with 68 owned apartments according to its preliminary plans. The conversion planning is ongoing and the project will be carried out by Lapis Rakennus Oy on a turnkey basis.
"The building is centrally located with access to excellent transportation and all of Kamppi's services within short walking distance. The layout and structures of this building that was built in 1945 are exceptionally suitable for a residential use. Plans for underground parking and a garden in the courtyard add to the attractiveness of the building," says Juhani Erke, Partner at CapMan Real Estate.
Ruoholahdenkatu 4 is the Nordic Real Estate fund's eleventh investment and its second in Finland. The focus of the fund is to acquire office, retail and residential properties located in established submarkets of major Nordic cities.