The CapMan Residential Fund, an open-ended Nordic fund, has made its first Swedish investment.
The core residential real estate fund said it is forward funding a SEK 314m (€30m) project in Örebro being developed by Swedish developer Serneke.
The project includes 139 apartments scheduled for completion in the fourth quarter of 2024.
Mikael Hjorth, partner and fund director for CapMan Residential Fund, said the first acquisition in Sweden fits very well with the fund’s investment criteria to invest in modern sustainable residential properties located in major Nordic cities.
“Through this investment in space-efficient, high-quality apartments, we continue on our path to develop a diversified Nordic core residential rental portfolio with stable risk-adjusted returns for our investors,” Hjorth said.
The Örebro investment is the fourth acquisition for the CapMan Residential Fund which was launched in June last year. The fund expects to raise €1bn in 2023.
To read the latest edition of the latest IPE Real Assets magazine click here.
