CapMan Real Estate converts an office building in central Helsinki into residential use

CapMan Press Release 19.5.2015 at 1.00 p.m. EEST

CapMan Real Estate converts an office building in central Helsinki into residential use

CapMan Nordic Real Estate fund acquires an office building on Ruoholahdenkatu 4 in Kamppi, Helsinki from Lapis Rakennus Oy. CapMan Real Estate intends to convert the building into residential use with 68 owned apartments according to its preliminary plans. The conversion planning is ongoing and the project will be carried out by Lapis Rakennus Oy on a turnkey basis.

"The building is centrally located with access to excellent transportation and all of Kamppi's services within short walking distance. The layout and structures of this building that was built in 1945 are exceptionally suitable for a residential use. Plans for underground parking and a garden in the courtyard add to the attractiveness of the building," says Juhani Erke, Partner at CapMan Real Estate.

"Lapis Rakennus has completed a number of demanding overhauls of downtown properties. We are confident that we can develop beautiful and functional homes for quality-conscious residents together with them," Juhani Erke continues.

Ruoholahdenkatu 4 is the Nordic Real Estate fund's eleventh investment and its second in Finland. The focus of the fund is to acquire office, retail and residential properties located in established submarkets of major Nordic cities.

For more information, please contact:
Juhani Erke, Partner, CapMan Real Estate, tel. +358 505 495 104

CapMan www.capman.com

CapMan is one of the European leaders in the private equity industry. For more than 25 years, we have been developing companies and real estate and supporting their sustainable growth. We are committed to understanding the needs of our customers in an ever-changing market environment. We provide attractive returns and innovative solutions for our investors and value adding services for professional investment partnerships, growth-oriented companies and tenants. Our independent investment partnerships - Buyout, Real Estate, Russia and Credit - as well as our associated company Norvestia are responsible for investment activities and value creation. CapMan's service business offering includes fundraising advisory services, purchasing activities and fund management services to both internal and external customers. CapMan has 100 private equity professionals and assets under management of €3.0 billion.