Capman RE II, a fund managed by Finnish asset manager Capman, has acquired 6.8 hectares of land in the Kivisto area of Vantaa, in the Helsinki metropolitan area. Under the existing plans, the land and the surrounding properties will be zoned mainly as a commercial services district. Capman said completion of the transaction is subject to the condition that the City of Vantaa does not exercise its statutory pre-emption right to the land area.
Capman RE II, a fund managed by Finnish asset manager Capman, has acquired 6.8 hectares of land in the Kivisto area of Vantaa, in the Helsinki metropolitan area. Under the existing plans, the land and the surrounding properties will be zoned mainly as a commercial services district. Capman said completion of the transaction is subject to the condition that the City of Vantaa does not exercise its statutory pre-emption right to the land area.
The Kivisto area is one of few undeveloped commercial districts specified in provincial land use plans in the Helsinki metropolitan area. In terms of transport the land is located slightly north of the Ring III and Helsinki-Hameenlinna Motorway intersection and it is quite close to Helsinki-Vantaa Airport. A significant amount of new residential development is also planned for the area, Capman said.
