The property was originally acquired by Capman Real Estate in December 2017. Since acquisition, the fund has signed several leases with new well-known tenants, carried out substantial refurbishment works and transformed the property to a core asset with long stable income.

“Since our acquisition, we have leased out more than 70 percent of the lettable space to new tenants and re-geared another 15 percent of the space, which has increased the one year wault at acquisition to more than six years at exit and secured a long-term stable income for the new owner. In addition, we have focused on improving the ESG performance of the property which in 2021 went through a BREEAM In-Use certification,” says Magnus Berglund, Deputy Head of Capman Real Estate Norway.

Capman Real Estate currently manages approximately EUR 4.0 billion in real estate assets. The Real Estate Team comprises over 60 real estate professionals in Helsinki, Stockholm, Copenhagen, Oslo and London.

Lille Grensen 5 is the 5th exit from the Capman Nordic Real Estate II Fund, a 2017 vintage value-add fund, which has 14 assets left in the portfolio. The team is currently investing from its third Nordic value-add fund, CapMan Nordic Real Estate III, which was established in September 2020 and raised EUR 564 million in equity.