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1 February 2022, Sweden | Corporate Finance | News

Catella advisor to CapMan in sale of office building

Catella acted as advisor to CapMan Real Estate in sale of an office building in Södra Värtan in Stockholm. The buyer was Areim.

Press release from CapMan:

CapMan Real Estate sells office building in Södra Värtan, Stockholm

CapMan Nordic Real Estate II Fund has sold two adjacent properties, Lybeck 2 and Ladugårdsgärdet 1:51, with a total leasable area of over 29,000 sqm in Södra Värtan, Stockholm, to Nordic fund manager Areim.
The properties were originally acquired by CapMan in December 2017 together with a third property, a station building, which was exited separately in 2020. Since acquisition, CapMan Real Estate has signed several significant leases with government tenants and carried out substantial refurbishment works. CapMan Real Estate has also initiated a zoning process in order to significantly increase the building rights on both properties. 
“Since our acquisition we have completely refurbished large parts of the building and signed new leases with several government tenants. We have also worked with and prepared the building for the ongoing zoning plan process, which holds the potential for interesting future developments. We are very satisfied with what we have achieved during our ownership. The successful exit demonstrates the effectiveness of our strategy and contribute to the continued success of our second value-add fund,” says Anna Reuterskiöld, Head of CapMan Real Estate Sweden.
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.
Lybeck is the 4th exit of CapMan Nordic Real Estate II, a 2017 vintage value-add fund, which has 15 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 has EUR 564 million in equity.