Newsec advisor for VVT Property Fund I Ky in the sale of a 133-room aparthotel located in Leppävaara, Espoo

12.12.2017

VVT Property Fund I Ky has sold a 133-room apartment hotel located in Leppävaara, Espoo, to CapMan Nordic Property Income Fund ("CMNPI"). The modern, LEED Gold certified property is fully leased to Forenom, a leading Nordic temporary accommodation provider, on a long lease. The asset is the first investment of the CMNPI fund in the Nordics.

Newsec represented the seller in the transaction while Properta Attorneys Ltd and Project Law Attorneys Ltd served as seller's and buyer's legal advisors, respectively.

"We are pleased with the first acquisition of the CMNPI fund in Finland. The acquired property generates stable and predictable cash flow, and it meets the key investment criteria of the fund including, but not limited to, its great location in a growing area, strong tenant, and excellent physical condition" says Sampsa Apajalahti, Investment Director and Fund Director of CapMan Nordic Property Income Fund.

CapMan Plc ("CapMan") is a leading Nordic investment and specialised asset management company with approximately 2.7 billion euros of assets under management. CapMan's investment strategies include Buyout, Growth Equity, Real Estate, Russia, Credit, and Infrastructure.

CapMan Nordic Property Income Fund (non-UCITS) is a Pan-Nordic open-ended real estate fund (FIN: "Erikoissijoitusrahasto") which is designed to provide investors with access to CapMan's institutional real estate investment platform that until now has been available for large institutions only. The CMNPI fund will seek to directly own a well-diversified portfolio of income generating commercial real estate in growing Nordic cities. The fund will target all main property types, including office, retail, logistics, and hotels as well as other sectors benefiting from the prevailing mega trends.

CMNPI Fund is managed by CapMan Real Estate Ltd. In March 2017 the Finnish Financial Supervisory Authority granted CapMan Real Estate Ltd a license to act as an alternative investment fund manager ("AIFM").

VVT Property Fund I Ky is a 2012-established real estate fund managed by VVT Kiinteistösijoitus Ltd. The fund investors include Varma Mutual Pension Insurance Company, the State Pension Fund, and Tradeka-invest Ltd.

Newsec – The Full Service Property House in Northern Europe – is by far the largest specialized commercial property firm in the region. Newsec offers a comprehensive range of services within the business areas Capital Markets, Commercial Brokerage Leasing, Asset & Property Management, Valuation & Advisory and Corporate Solutions to property owners, investors and occupiers. Newsec was founded in 1994 and is owned by its partners. Today, The Group employs over 1700 professionals in 41 offices.

More information:
Simo Vilhunen Partner, Capital Markets | MRICS
simo.vilhunen@newsec.fi
tel: +358 505 722 338