The CapMan Nordic Real Estate III fund has acquired four office properties located in the midtown Helsinki neighbourhoods of Pasila, Vallila and Kalasatama from Goldman Sachs Asset Management and Cromwell Property Group. CapMan aims to modernise the spaces and improve the energy efficiency of the assets. The assets complement the existing value-add strategy of the Fund.
The assets have a total lettable area of 35,000m² and are located in vibrant and accessible mid-town office areas of Helsinki. The central locations combined with unbeatable public transport connections make the assets very attractive to prospective tenants, for example, Pasilanraitio 5 is located adjacent to the Tripla shopping centre and certain key transit connections, Kumpulantie 3 is located in Vallila, close to Pasila, Elimaenkatu 26 is located in the heart of Vallila and Vanha Talvitie 11 is located in the fast-growing Kalasatama area which is located close to the metro station.
Commenting on the acquisition, Sampsa Apajalahti, Investment Director at CapMan Real Estate said: “the Pasila-Vallila-Kalastama commuter area is one of the largest office hubs in Helsinki. The prime location and availability of public rail transport offer plenty of opportunities to companies seeking office space. That said, many of the offices in the area are in need of upgrades. Our goal is to create attractive workplaces by modernising the spaces and improving their energy efficiency, with the ultimate aim of obtaining energy certificates for each of the assets. Overall, the assets are a great strategic fit for our fund”.