Business Services Industry
CapMan Plc establishes new fund investing in hotel real estate
Nordic Business Report, Jan 18, 2008
NORDIC BUSINESS REPORT-18 January 2008-CapMan Plc establishes new fund investing in hotel real estate(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com
Finland-based Nordic private equity investor CapMan Plc said on Friday (18 January) that it has established a new private equity real estate fund, CapMan Hotels RE Ky, investing in hotel real estate especially in Finland and Sweden.
The fund has signed an agreement on the acquisition of a EUR805m hotel portfolio of 39 properties from Northern European Properties Ltd (NEPR).
The establishment of the new fund raises the total capital managed by CapMan by some 27% to some EUR3.8bn, the company said.
The establishment of the fund is estimated to have a slightly positive impact on CapMan's result for 2008.
Northern European Properties Limited is a Jersey incorporated company which invests in real estate opportunities in the Nordic and Baltic Regions and Baltic Russia. The company is listed on AIM, a market of the London Stock Exchange, and on Euronext Amsterdam.
CapMan, with offices in Helsinki, Stockholm, Copenhagen and Oslo, manages Nordic buyout, mezzanine, technology, life science and real estate funds with approximately EUR2.6bn in total capital. CapMan is listed on the Nordic Exchange in Helsinki.
One British pound (GBP) is worth approximately 1.32 euros (EUR).
((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))
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