The Capman Nordic Real Estate III fund (CMNRE III) acquires the Kauriala buildings and a plot belonging to the Seminaari school located in Hämeenlinna, Finland, from the University Properties of Finland. The Seminaari school is located in the Kauriala neighbourhood of Hämeenlinna, and it is the largest primary school in Hämeenlinna with approximately 750 pupils. The entire property is under a long-term lease to the City of Hämeenlinna. This investment supports the fund's strategy very well due to its central location and long-term lease. Amongst other things Capman Real Estate plans to renovate one of the buildings and improve the energy efficiency and accessibility of the other buildings.

The Seminaari school property in Kauriala consists of eight buildings, all built at different times between 1930 and 1984. The property is leased by the City of Hämeenlinna under a long-term lease. Hämeenlinna is a city of 68,000 inhabitants and in the middle of the main highway from Helsinki to Tampere at c.1 hour drive away from both cities. Most of the buildings have undergone renovations in recent years. One building, originally completed in 1953, is currently undergoing a thorough renovation, which has been agreed upon with the City of Hämeenlinna. Capman Real Estate will finalise this renovation as well as other already agreed upon investments and repairs. In addition, Capman Real Estate is planning energy-saving investments, aiming to improve the properties energy class, as well as accessibility related improvement measures. As a result of these improvements Capman Real Estate will apply for BREEAM In-Use environmental classification of the properties, targeting at least level Very Good.

Attached to the property and as part of the acquired asset is also an unbuilt plot, designated for residential use in the master plan. Capman Real Estate has agreed with the City of Hämeenlinna to discuss development opportunities for the plot supporting the development of the surrounding area, during this spring.

"We are very pleased with this investment, which fits our fund's investment strategy well. As the largest primary school in Hämeenlinna and due to its central location, the Seminaari school is a strategically important asset for the city. Our goal is to further develop the property for school use together with the City of Hämeenlinna, in order for the property to serve students and teachers in the area far into the future, something which the long lease agreement provides good basis for," comments Aleksi Konsti, Investment Director at Capman Real Estate.

“We are pleased to start this cooperation with Capman Real Estate. For us it is important to have a good partner taking care of the very good condition of the building related to the services we provide as a city,” says Tarja Majuri, Director of Urban Structure at the city of Hämeenlinna.

”It’s wonderful, that the City of Hämeenlinna gets an active owner as its new landlord. The Seminaari school was no longer in the core of the University Properties of Finland’s real estate strategy which is why we decided to sell the asset. We are pleased that the school will now become part of Capman Real Estate’s portfolio”, says Sanna Sianoja, CEO at University Properties of Finland.