CapMan Real Estate leases approximately 30,000 m² of office and commercial space in spring 2012 (FI)

CapMan Real Estate has leased a total of 30,000 m² of office and commercial space in Helsinki, Turku and Hyvinkaa during spring 2012. The properties are owned by CapMan RE II, a fund advised by CapMan Real Estate.

Among new tenants scheduled to open for business in conjunction with the inauguration of the second phase of the Hyvinkaa-based shopping center Willa in October 2012, are retail chains New Yorker and Stadium. Clas Ohlson will open its store in Shopping Center Skanssi, Turku.

CapMan Real Estate has leased an entire office building on Elimaenkatu 15 in the Vallilla neighborhood in Helsinki. The property, which is owned by the CapMan RE II fund, was almost empty at the time of purchase in May 2011. As a result of active property development, over 15,000 m² in total was leased to a Finnish company in March 2012.

In December 2007, CapMan RE II purchased a property on Yliopistonkatu 22 located on Turku's Hansa block. The 12,700 m² property is leased to the department store Stockmann. At the turn of the year, CapMan Real Estate extended Stockmann's lease until the year 2028.

In cooperation with the investment company Finesco Invest Oy, CapMan Real Estate has developed the second phase of a shopping center called Willa in the center of Hyvinkaa. CapMan RE II purchased the land in October 2009. Willa expects to open the second phase of the shopping center, currently under construction, on 18 October 2012.

CapMan Real Estate has recently signed leases for Willa with international retail chains Stadium and New Yorker, among other tenants. The contracts total an area of 2,300 m². The New Yorker store to be opened in Hyvinkaa is among the chain's first ones in Finland.

CapMan Real Estate has signed its newest lease agreement with the retail chain Clas Ohlson. A retail store of approximately 1,000 m² is scheduled to open in Skanssi, Turku, in October this year. The construction work of the Shopping Center Skanssi, owned by the CapMan RE II fund, started in 2007 and was completed in April 2009. Today, the shopping center consists of over 90 shops and services.

CapMan manages four real estate funds of which CapMan Real Estate I invests in commercial real estate in the Helsinki metropolitan area, CapMan RE II invests in commercial real estate and development properties in Finland, CapMan Hotels RE invests in hotel properties mainly in Finland and the first property-specific hotel property fund, CapMan Yrjönkatu 17 Ky, invests in a hotel property in Helsinki.

Source: Capman

Related News