CapMan Real Estate has unveiled plans to invest in its first EU Taxonomy-aligned project by developing two highly sustainable residential apartment buildings in Turku, Finland.
Financial details were not disclosed.
The CapMan Nordic Real Estate III Fund will build two LEED Gold-level certified, energy class A, residential apartment buildings in the Pukkila neighbourhood of Turku, Finland, together with Finnish construction company Hartela.
The construction is set to start in September 2022 with the intended completion of the first building in January 2024. The buildings will house 127 apartments ranging from studios to two-bedroom apartments.
The properties will be fitted with geothermal heating and solar panels together with energy efficient air ventilation systems and water fixtures. The buildings will also use fossil free energy for its heating and electricity.
Sampsa Apajalahti, investment director at CapMan Real Estate said: 'We are very happy to be able to carry out a project of such high quality for Turku’s inhabitants.
'This is the first new-build in the history of CapMan Real Estate that implements EU Taxonomy aligned building practices. Ground source heating and solar panels installed on the roof will reduce the occupants’ carbon footprint while curbing energy costs.
'The buildings will have several amenities that increase living comfort, such as easy access to Turku city centre, recreation areas in the vicinity and a carsharing for the inhabitants.'
Added Veli-Matti Kankare, planning manager at Hartela Länsi-Suomi: 'At Hartela, we have made big investments in to sustainable development.
'I am happy to be carrying out this project together with CapMan Real Estate as we share similar targets when it comes to minimising the environmental impacts of housing.
'We strive to reduce energy consumption during occupancy, as energy consumption plays a significant role in life cycle emissions of buildings.'
Once completed the apartment buildings will feature electric car charging stations and a car sharing service for the residents. The inhabitants will also be able to follow their water consumption through and app on their hone, enabling them to directly impact their water bills.
The €564 mln CapMan Nordic Real Estate III Fund was established in 2020 and it invests primarily in office, retail, and residential real estate in the Nordic regions.
