Helsinki-based Capman Real Estate has sold the Rantasipi Sveitsi hotel in Hyvinkää, Finland to Sveitsi Kiinteistörahasto.
The purchaser, representing a consortium of investors, was established to redevelop the hotel.
Previous tenant Restel's lease of the property came to an end in spring 2016. The new owner has announced plans to refurbish and reposition the hotel property as a spa destination.
'The timing of the asset sale is most convenient from the fund's perspective, as the lease has recently expired. We are very pleased that we have found an energetic new owner for Rantasipi Sveitsi, which is committed to developing this hotel and revitalising it to its full splendour,' said Pirjo Ojanperä, partner of Capman Real Estate.
Capman Hotels RE fund was established in 2008, and manages 39 hotel properties in Finland and Sweden. The fund includes, among others, the hotel properties of Crowne Plaza and GLO Hotel Art in central Helsinki.
