CapMan Real Estate sells five-star hotel property in central Helsinki to Deka Immobilien

CapMan Real Estate                        Press Release                    27 June 2016 at 10.00 a.m. EEST

 

CapMan Real Estate sells five-star hotel property in central Helsinki to Deka Immobilien

CapMan Nordic Real Estate fund has signed an agreement to sell a hotel property on Yrjönkatu 13 in central Helsinki to a fund managed by Deka Immobilien. CapMan Real Estate is currently converting the property into a 153-room luxury hotel, Hotel St. George, with Kämp Collection Hotels as an operator. The transaction is expected to close when the conversion work has been finalised and Hotel St. George opens its doors to the public in summer 2017.

"We are very pleased to have found a long-term owner for this landmark building in the heart of Helsinki already during the development phase. Our value add work in executing the conversion project in collaboration with Kämp Collection Hotels is in good progress and will be completed in summer 2017 when Hotel St. George, Helsinki's newest addition to the premium hotel segment, opens its doors," comments Juhani Erke, Partner at CapMan Real Estate.

Following the comprehensive renovation, Hotel St. George will include 153 rooms, an exclusive spa area with a swimming pool, a restaurant, a cocktail bar and a winter garden located in the inner courtyard. The hotel will mainly cater to business travellers as well as the increasing tourist flows to Helsinki.

Yrjönkatu 13 is the third exit of the CapMan Nordic Real Estate fund. The focus of the €273 million fund established in 2013 is to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities.

 

For more information, please contact:
Juhani Erke, Partner, CapMan Real Estate, tel. [phone]
Mika Matikainen, Senior Partner, Head of CapMan Real Estate, tel. [phone]

 

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 €2.7 billion.

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Source: CapMan Oyj via Globenewswire

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