Finnish real estate company Capman has acquired two retail properties in Turku, southern Finland, from Niam Fund III and the Whitehall Street Real Estate Funds for an undisclosed amount. The properties were acquired through the company's Capman RE II fund.
Finnish real estate company Capman has acquired two retail properties in Turku, southern Finland, from Niam Fund III and the Whitehall Street Real Estate Funds for an undisclosed amount. The properties were acquired through the company's Capman RE II fund.
One of the properties comprises 12,700 m2 of retail space which is fully let to Finnish department store Stockmann. The property was part of a portfolio which Niam Fund III and the Whitehall Street Real Estate Funds acquired from Sponda in February.
The other asset was built in 1969 and has a lettable area of around 8,600 m2. The mall is fully leased to several tenants. The closing is expected to take place on January 11, 2008.
Capman manages two real estate funds focusing on investment in commercial properties in the Helsinki metropolitan area (CapMan Real Estate I) and in commercial properties and property developments in Finland as a whole (CapMan RE II).