The acquisition of Icecapital Housing Fund III portfolio comprises 37 residential assets and 1,740 apartments with a combined area of some 100,000 sqm. The apartments are located mostly in the Helsinki Metropolitan Area. The off-market transaction was sourced by Capman.
Following the acquisition, the investment volume of Capman’s mandate from BVK increases to approximately €820 million, invested mostly in Helsinki Metropolitan Area, Copenhagen and Aarhus.
Capman will continue to advise the fund on sourcing and managing transactions in the Nordics. The timing and size of additional commitments will be subject to the availability of suitable investment opportunities.
“We’re very pleased to add this high-quality portfolio to the BVK fund and continue to see increasing interest from international investors for Nordic residential properties,” comments, Sampsa Apajalahti, Investment Director at Capman Real Estate.
“The growth of the mandate is an excellent example of the confidence that international institutions have in CapMan’s local expertise. Investment mandates are part of Capman’s strategy for servicing a broader customer base through our platform of local investment experts,” says Joakim Frimodig, Capman’s CEO.
The mandate advised by Capman is a real estate fund held on the platform of Universal-Investment. Capman receives long-term advisory and performance fees from the mandate in accordance with standard industry practices.
Capman Acquires from Icecapital – Grows Residential Mandate for BVK to EUR 820M
Finland — Capman Real Estate has completed the acquisition of a residential portfolio from the Finnish fund manager Icecapital and its local investors for a fund on the account of Bayerische Versorgungskammer (BVK), Germany’s largest public pension fund group.