Corum AM invests in Finnish hotel sector

Corum AM invests in Finnish hotel sector

Corum AM, acting on behalf of its fund Corum Convictions SCPI, has acquired a portfolio of six hotel assets across Finland from CapMan Hotels RE Ky. The hotel portfolio includes three city centre hotels in Turku, Kemi and Rauma operated by Scandic Hotels and three Holiday Club Spa Hotels located in the popular resort and recreational areas of Saariselka, Kuusamo and Katinkulta. Corum AM was advised by Renger Investment Management (RIM). The purchase price was not disclosed. 

 

“We are pleased that we have been able to grow our presence in the Finnish real estate market over the past year. The acquisition of the hotels from Capman improves our position in the market as we enter the hotel segment. RIM´s sourcing capabilities have proved to be a key success factor and we look forward to future cooperation,” said Philippe Cervesi, Corum AM, Investment Director.

 

“During the last two years, we have signed new long leases and made extensive renovations together with our tenants to the exited hotel properties, so these hotels are in good position to enable future growth supported by the strong development of the hotel market in Finland. It is our pleasure to welcome Corum to the Finnish hotel market and we want to thank Corum and RIM for the smooth and professional process during the transaction,” said Markku Jaaskelainen, CapMan Real Estate, Investment Director.

 

David Renger, CEO of RIM commented: "RIM continues its successful cooperation with Corum in long let real estate. We have now concluded four off-market transactions. During the past two years, RIM has invested together with and advised Nordic and international investor clients to a value exceeding €300m.”

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