The CapMan Nordic Real Estate III fund (CMNRE III) acquires the Kauriala buildings and a plot belonging to the Seminaari school located in Hameenlinna, Finland, from the University Properties of Finland. The Seminaari school is located in the Kauriala neighbourhood of Hameenlinna, and it is the largest primary school in Hameenlinna with approximately 750 pupils.
The entire property is under a long-term lease to the City of Hameenlinna. This investment supports the fund's strategy very well due to its central location and long-term lease. CapMan Real Estate plans to renovate one of the buildings and improve the energy efficiency and accessibility of the other buildings.
Attached to the property and as part of the acquired asset is also an unbuilt plot, designated for residential use in the master plan. CapMan Real Estate has agreed with the City of Hameenlinna to discuss development opportunities for the plot supporting the development of the surrounding area, this spring.
"We are very pleased with this investment, which fits our fund's investment strategy well. As the largest primary school in Hämeenlinna and due to its central location, the Seminaari school is a strategically important asset for the city. Our goal is to further develop the property for school use together with the City of Hämeenlinna, in order for the property to serve students and teachers in the area far into the future, something which the long lease agreement provides good basis for," commented Aleksi Konsti, Investment Director at CapMan Real Estate.
“We are pleased to start this cooperation with CapMan Real Estate. For us it is important to have a good partner taking care of the very good condition of the building related to the services we provide as a city,” said Tarja Majuri, Director of Urban Structure at the city of Hämeenlinna.
”It’s wonderful, that the City of Hämeenlinna gets an active owner as its new landlord. The Seminaari school was no longer in the core of the University Properties of Finland’s real estate strategy which is why we decided to sell the asset. We are pleased that the school will now become part of CapMan Real Estate’s portfolio”, said Sanna Sianoja, CEO of University Properties of Finland.
Image provided by CapMan.
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