CapMan has exceeded the initial target size for its Nordic value-add real estate fund.

The investment manager said the fund closed at €273m, exceeding its initial target size, with support from institutional investors in Europe and the US.

The fund invests in office, retail and residential properties in established and fast-growing sub-markets of major Nordic cities.

CapMan has made six investments, deploying around one-third of the fund’s total capital.

Investments include office buildings Silverdal I, Apelsinen 4 and Bergshamra Bro in northern Stockholm and the Plaza Presto office building in Finland.

The fund has also acquired nine properties on Amagerbrogade and two prime residential properties in Copenhagen.

Mika Matikainen, senior partner and head of CapMan Real Estate, said: “There are a lot of attractive investment opportunities in our key markets, and we are expecting to make a number of new investments this year.”

The fund recently committed to the development of the City Center BROEN, a 29,900 sqm shopping centre in Esbjerg, Denmark.

Construction will begin this Spring.