Capman Nordic Real Estate II fund acquires the Cavonius building, an office and retail property located at Pohjoisesplanadi 21, Helsinki. The property is already the fund’s third acquisition to its City Pearls portfolio investing in prime and unique office and retail properties in central Helsinki.
Originally designed by Carl Ludvig Engel and constructed in 1820, the building is one of the oldest in the Helsinki city centre. The extensions designed by Kiseleff & Heikel and Sebastian Gripenberg were constructed between 1882 and 1883. The building has since been refurbished and modernised. The approx. 2,300 sqm and four storey building is located next to the Esplanade park on the premier high street Pohjoisesplanadi known for its numerous restaurants, high-class shops and office premises.
”We are very pleased with the acquisition of this exclusive property. Such properties located in the absolute heart of the Helsinki central business district are rarely available. This unique property is perfectly in line with the investment strategy of Capman Nordic Real Estate II fund. The property is almost fully let and provides excellent possibilities to further develop it for future business and commercial needs”, comments Sampsa Apajalahti, Investment Director at Capman Real Estate.
Pohjoisesplanadi 21 is the thirteenth acquisition of the EUR 425 million Nordic Real Estate II fund raised in 2017. The focus of the fund is to invest mainly in office, retail and residential properties located in established submarkets of major Nordic cities. In autumn 2018, the fund acquired two office properties in central Helsinki: Pieni Roobertinkatu 11 and Korkeavuorenkatu 30. Together with Pohjoisesplanadi 21, these properties form the City Pearls portfolio, which is a collection of superior office and retail properties in central Helsinki.