Nordic real estate fund managers are continuing to attract institutional capital, with CapMan and Urban Partners both announcing significant fundraising milestones this week.

CapMan Real Estate has held the first close of CapMan Nordic Real Estate IV (CMNRE IV), the fourth vehicle in its value-add real estate series. Supported by both existing and new international investors, the fund is targeting €750m of commitments and is expected to become the largest in the strategy’s history.

The fund will focus on high-growth real estate sectors across the Nordic region, primarily residential and public-sector assets, while selectively investing in hotels and logistics properties benefiting from long-term structural trends.

CapMan has already secured a seed investment in a residential project in Copenhagen and is advancing additional opportunities across the Nordics.

“We are coming to market at a genuinely attractive moment as we are seeing a depth of opportunities across the Nordics that gives us real conviction in the strategy,” said Mikael Rihto, Fund Director of the CapMan Nordic Real Estate Value-add Fund Series.

Meanwhile, Copenhagen-based Urban Partners has launched the Urban Partners Regeneration Fund, a vehicle dedicated to large-scale urban regeneration projects across Europe. Following a first close backed by institutional investors including PensionDanmark and SamPension, the strategy has secured an unlevered investment capacity of up to €650m through a combination of fund commitments and co-investment capital.

Recently completed deals       
Asset Asset type Location Buyer Vendor Size Price (mln) Key facts
PRS business living Greater London MSREI, Ridgeback London & Quadrant Housing Trust 3,200 homes £1,045 (€1209) The sale includes the transfer of Metra Living’s operational platform and team and its £300m of external debt facilities.
4 prime logistics assets logistics Vestby and Moss, Oslo KLP Eiendom Urban Partners 98,000m2 €163 (NOK1.800) The sale marks the largest logistics transaction in Norway this year.
BTR development living London QuadReal London Square 241 units £120 (€139) The development is a triple tenure scheme delivering 700 homes, including 337 (48%) affordable properties.
retirement home portfolio living UK Social Housing REIT RHP Holdings Limited 2,150 flats £108.3 (€125) The portfolio comprises 1,907 senior living rental flats and 256 housing manager flats.
retail park portfolio retail Poland Generali Investments CEE and SCF Patron Capital and Trei Real Estate 68,000m2 €110 The six food-anchored convenience assets were developed as part of a joint venture, established in 2021.
Central Point office Warsaw Lewandpol Property Immobel and Universale 19,300m2 €107 The asset is fully let.
eight retail properties retail Finland Prisma Properties Kesko Oyj, Corum, NA 28,000m2 €65 The total annual rental value amounts to €4.9m.
industrial estate logistics Harrow, UK NA Big Yellow NA £38 (€44) The proceeds from the disposal will be used to fund the build out of 11 new stores.
two retail parks retail Romania Star Capital Finance RC Europe 24,000m2 €40 The portfolio includes NEST Miercurea Ciuc and NEST Moinești, two dominant retail parks.
Posnania retail Poznan, Poland Trigea Apsys 100,000m2 NA Opened in 2016, the asset comprises more than 300 shops.
two logistics assets logistics Stockholm Swedish state Barings NA NA The properties were held in a European value-add strategy.
five residential properties living Helsinki, Espoo and Vantaa Slättö’s private equity fund Veritas NA NA The assets have strong occupancy rates.
Four Points Flex by Sheraton hotel hotel Essen, Germany Art-Invest Real Estate Unnamed institutional fund 174 rooms NA This transaction is part of the company’s strategy to combine hotel properties with its own or affiliated operating platforms.
Zurich Marriott Hotel hotel Zurich Pictet Alternative Advisors NA 266 rooms NA The hotel will continue to be operated by Marriott.
hotel portfolio hotel London OneIM, Aendre and LHC APG 587 rooms NA The acquisition, backed by financing from Cheyne Capital, comprises three freehold assets across South Kensington, Covent Garden and Belgravia.

 

 

Assets on the market       
Asset Asset type Location Vendor Size Price (mln) Broker Key facts
ONE Goetheplaza office Frankfurt LUWIN Real Estate 13,500m2 €300 BNP Paribas RE The building forms the entrance to the luxury shopping mile Goethestrasse.
PBSA scheme in Kingston - Vibe living London Blacksand 300 beds £53 (€61) Harris Associates The site is being offered at 8.85% net initial yield.
The Lane living London Urbane London 100 studios £33 (€38) NA The developmen is due to complete in December 2026 and is being delivered as a fully private co-living offering.
Regent Arcade retail Cheltenham, UK Canada Life 205,000sqft £29 (€33) JLL The property was managed by Canada Life Asset Management for over 20 years.

 

Recently completed loans    
Lender(s) Borrower(s) Asset(s) Loan Size (mln) Key facts
Cheyne Capital OneIM London hotel platform £375 (€433) The facility includes acquisition finance and development funding.
Morgan Stanley, PGIM and Deutsche Pfandbriefbank HighBrook Dutch logistics portfolio €212 The five-year facility included a capital expenditure tranche to support ongoing value enhancement initiatives across the portfolio.
Beaufort Capital LNT 12 care homes £123.5 (€143) The facility will help fund the development.
PGIM Space Station UK self-storage platform £48 (€56) The senior loan refinances and upsizes the existing debt facility with the company.
Ask Partners Compound Real Estate mixed use self-storage development in Guildford, UK £20 (€23) The senior development facility will refinance the existing site acquisition loan and enable a scheme comprising 60,450sqft.

 

New mandates/JVs and funds on the market   
Firm Fund/mandate/JV Strategy Details
Urban Partners Urban Partners Regeneration Fund Regenerating brownfields into vibrant, mixed-use neighbourhoods The fund held its first closing, moving forward with an unlevered investment capacity of up to €650m.
      The investment vehicle is backed by anchor institutional partners PensionDanmark and SamPension.
LeadCrest Capital Partners, Holding Moda Italian property JV Completing sale and lease back operations involving the Holding Moda portfolio The operation involves around €100m of assets.
CapMan Real Estate Nordic Real Estate IV Structured as an SFDR article 8 product the fund will target high growth real estate sectors across the Nordics The fund is on track to reach its target size of €750m in commitments.

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