CapMan Nordic Real Estate II fund has let approx. 1,800 sqm of retail space at Lille Grensen 5 to Power, the large and well-known pan Nordic electrical retailer.
Power has leased the entire basement, ground and first floor retail space for a period of 11 years. The property is a 4,700 sqm mixed retail and office building located on Lille Grensen, a well-known pedestrianised street in the heart of Oslo city centre which connects with both Karl Johans gate, the premier retail street in Oslo, and Grensen.
“We are very excited to sign a long-term agreement with Power, who we think is an ideal tenant for this property. Leasing to an exciting brand such as Power within six months of our previous tenant vacating clearly demonstrates the attractiveness of our property both in terms of quality and location. Lille Grensen 5 is CapMan Real Estate’s second investment in Oslo and we are pleased to intensify our co-operation with both tenants and property professionals in the Norwegian market,” comments Ed Williams, Managing Partner at CapMan Real Estate.
Power wishes to strengthen its position in Oslo and will, through this store, create a future-oriented retail outlet that takes into account the role and impact of e-commerce. Power expects to launch its store of the future during March 2019.
Malling & Co and CLP acted for CapMan in the transaction.
CapMan Nordic Real Estate II is a €425 million fund raised in August 2017. The focus of the fund is to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities.
CapMan Real Estate has a team consisting of over 30 real estate professionals in Helsinki, Stockholm and Copenhagen. CapMan Real Estate was established in 2005 and it currently has over €1.7 billion of assets under management.
For further information, please contact:
Ed Williams, Managing Partner, CapMan Real Estate, tel. +46 76 506 20 71
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value-creation in its target companies and assets. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers we have developed hundreds of companies and real estate and created substantial value in these businesses and assets over the last 30 years. CapMan employs today approximately 120 private equity professionals and has approximately €2.8 billion in assets under management. We mainly manage the assets of our customers, the investors, but also make investments from our own balance sheet. Our objective is to provide attractive returns and innovative solutions to investors. Our current investment strategies cover Real Estate, Buyout, Russia, Credit, Growth Equity and Infra. We also have a growing service business that currently includes procurement services (CaPS), fundraising advisory (Scala Fund Advisory), and fund management services. www.capman.com
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