CapMan Nordic Real Estate fund has sold Plaza Presto, a modern 6,000 m² office building in Vantaa Aviapolis near the Helsinki-Vantaa airport, to a real estate fund managed by eQ.
CapMan Nordic Real Estate fund invested in Plaza Presto in October 2014. Plaza Presto is part of Gate8 business campus and it was built in 2001.
Juhani Erke, Partner at CapMan Real Estate said: "We are extremely pleased with this investment. During our ownership, we have completed our business plan by increasing the occupancy of the property to 94% and reducing maintenance costs. The timing for us to sell the property is excellent,"
The focus of the €273m CapMan Nordic Real Estate fund is to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities. The fund was established in 2013. KOy Plaza Presto is the eighth exit of the fund.
