Varma, CapMan Nordic Real Estate Fund and Cavendo partnership acquires Heron City in Stockholm
(Thomson Reuters ONE) -
CapMan press release 1 September 2016 at 8.30 a.m.
EEST
Varma, CapMan Nordic Real Estate Fund and Cavendo partnership acquires Heron
City in Stockholm
Varma, CapMan Nordic Real Estate Fund and Cavendo have purchased Heron City, the
49,400 sqm landmark retail centre located in Kungens Kurva, Stockholm from NIAM
for SEK 930 (EUR 98) million.
"We are delighted to have completed this acquisition with both our long standing
partner and investor Varma and our new partner Cavendo, who will take
responsibility for asset management at the centre. With all of the opportunities
it presents, Heron City is a great fit with our value-add strategy," comments Ed
Williams, Senior Partner at CapMan Real Estate.
Kungens Kurva is 15 minutes South of Stockholm's city centre and is the busiest
retail area in the Nordics with approximately 20 million visitors a year. The
area is anchored by the largest IKEA store in the world and the catchment area
includes 1.5 million people within a 30-minute drive.
Heron City's main tenants include Sweden's largest cinema operated by SF Bio,
home electronics retailer Media Markt, interior design and furniture retailer
Mio, Willys supermarket and sports & outdoor retailer XXL. With a distinct
retail and leisure offering, Heron City complements the other retail centres in
the area and has benefited from increasing visitor numbers and turnover as
Kungens Kurva has expanded in recent years. Visitors to Heron City in 2015
amounted to 7.2 million. The property will benefit from significantly improved
accessibility and catchment area over the coming years with the completion of
the the Stockholm bypass infrastructure project.
"Varma is one of the leading real estate investors in Finland but has been
actively pursuing opportunities to expand our international diversification
recently. With the excellent and continually improving retail dynamics in the
Kungens Kurva area, we are excited to be increasing our retail exposure to
Southern Stockholm. Working together with CapMan and Cavendo we aim to make this
transaction a success", says Ilkka Tomperi Varma's investment director in charge
of real estate investments.
"We are very proud to form this partnership with Varma and CapMan. Heron City is
a property with strong fundamentals, which at the same time offers value-add
opportunities through active asset management, which fits perfectly with
Cavendo's investment philosophy. We look forward to realising Heron City's full
potential together with our partners," says Joakim Karlsson, Managing Director
at Cavendo.
"Real estate suits well into our wider investment portfolio and our recent
international investments across Western Europe have performed well benefiting
from the good underlying fundamentals of many of these growing markets,"
comments Ilkka Tomperi.
For further information, please contact:
Ed Williams, Senior Partner, CapMan Real Estate, tel. +46 (0)8 445 1051
Ilkka Tomperi, Investment Director Real Estate, Varma, tel. +358 50 379 1903
Joakim Karlsson, Managing Director, Cavendo, tel. +46 (0)736 99 13 70
CapMan www.capman.com
CapMan is a leading Nordic investment and asset management company. 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. Our objective is to 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 Nest Capital - 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
professionals and assets under management of ?2.8 billion.
Varma www.varma.fi
Varma Mutual Pension Insurance Company is the most solvent earnings-related
pension company and largest private investor in Finland. The company is
responsible for the statutory earnings-related pension cover of some 860,000
people in the private sector. Premiums written totalled EUR 4.6 billion in 2015
and pension payments stood at EUR 5.2 billion. Varma's investment portfolio
amounted to EUR 41.2 billion at the end of June 2016. Varma is one of the
largest property owners in Finland with a total real estate portfolio of EUR
3.8 billion.
Varma.fi / Real Estate: https://www.varma.fi/en/other/kiinteistot/real-estates/
Financial information and investments:
https://www.varma.fi/en/other/about-varma/financial-information-and-investments/
Annual report 2015 / Real estate investments:
http://annualreport.varma.fi/2015/investments/real-estate-investments/
Cavendo www.cavendo.se
Cavendo AB is an independent investment advisory and asset management firm based
in Stockholm. The team has a broad experience of acquiring and managing
commercial real estate in the Nordic region. Cavendo was founded in 2014 and its
clients include Nordic institutions such as AMF Pensionsforsakring and Ilmarinen
and more recently, Varma and CapMan.
Heron City:
http://hugin.info/132028/R/2038946/759934.png
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: CapMan Oyj via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 01.09.2016 - 07:30 Uhr
Sprache: Deutsch
News-ID 492132
Anzahl Zeichen: 6432
contact information:
Town:
Helsinki
Kategorie:
Business News
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