CapMan Real Estate has signed an agreement with Bayerische Versorgungskammer (BVK), Germany's largest pension scheme group, to invest up to €400m in residential real estate in the Nordics on behalf of BVK.
"In the past few years, we have grown to become a leading Nordic real estate investor. The mandate from BVK enables us to combine our local know-how and real estate expertise with our ability to serve international clients," comments Heikki Westerlund, CapMan's CEO.
Under its broad mandate, CapMan will source, advise on and execute transactions as well as manage the assets on behalf of BVK in Sweden, Denmark, Finland and Norway. CapMan Real Estate has a longstanding relationship with BVK and has also already advised the group on the acquisition of a €80m prime residential portfolio in Finland in April 2016 in relation to the now formed investment mandate.
"We are extremely pleased to utilise our local know-how and networks in the Nordic market also on behalf of this significant European investor. This mandate demonstrates the confidence that BVK shows in our team and we look forward to working with BVK for years to come," says Mika Matikainen, Senior Partner and Head of CapMan Real Estate.
"The largest Nordic cities are experiencing significant population growth, and the residential sector offers reliable income with upside potential. We anticipate increasing demand from international investors attracted to the strong economies and the stability of the region," comments Nigel Pedroz, Partner of CapMan Real Estate.
CapMan will receive an annual advisory fee and a performance fee on the mandate based on standard industry practice.
