CapMan Residential Fund has announced the acquisition of a forward funding project in Ursvik, Sundbyberg, Sweden. Financial details were not disclosed.
The project is situated 10 km north of Stockholm city center and comprises 289 rental apartments, an underground parking garage with 85 parking spaces and two small commercial premises. The project is acquired from Reliwe, and the development and construction will be managed by Reliwe and Consto with expected completion in early 2027.
The acquisition is the ninth investment for CapMan’s pan-Nordic core residential fund. The investment fits with the fund's strategy to invest in attractive locations in the largest Nordic cities and in assets with strong sustainability profiles, the company said in a statement.
'We are excited to secure our second investment in Sweden for our residential fund, marking the first within the Greater Stockholm area. This high-quality project is a fantastic addition to the existing portfolio and aligns well with the fund’s strategy to further expand its presence in Sweden. The strong sustainability profile of the project demonstrates our commitment to responsible investing,' said Pontus Danielsson, investment associate at CapMan Real Estate.
Since its inception in 2021, the open-ended core residential fund has raised and invested nearly €1 bn of equity and aims to reach €2 bn by 2026. 'We are excited about this investment and look forward to continue expanding our portfolio in Sweden and throughout the Nordics in the years ahead,' commented Magnus Berglund, partner and head of CapMan Real Estate Sweden and Norway.
CapMan Real Estate manages €4.4 bn in real estate assets, with a team of over 80 professionals located in Helsinki, Stockholm, Copenhagen, Oslo, London and Jyväskylä.
