CapMan Nordic Real Estate fund has agreed to sell The English School property in Stockholm to Fastighets AB Stenvalvet.
CapMan Real Estate originally invested in the vacant 7,930 m2 office property in August 2015 in order to convert the building into modern school premises for Internationella Engelska Skolan (IES), which signed a long-term lease for the property. The conversion work was finalised on schedule and the school opened its doors in August this year.
'Älvsjö is a fast growing suburb with high demand for services and our school project has generated great interest from both pupils and their families. Investor interest has also been very strong. We are very happy about the smooth collaboration we have enjoyed with IES in Älvsjö and look forward to continuing our excellent relationship on other future projects,' said Ed Williams, senior partner at CapMan Real Estate.
The purchaser, Fastighets AB Stenvalvet, is a Swedish property company owned by pension funds, which holds and develops properties for public use.
The English School represents the fourth exit of the CapMan Nordic Real Estate fund. The focus of the €273 mln fund, established in 2013, is to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities.
