French investor Corum Asset Management has acquired a portfolio of six Finnish hotels from Nordic private investor Capman for €72.4 mln.
The portfolio, which was held by the Capman Hotels Fund, comprises 43,500 m2 and around 870 rooms. The hotels are located in Turku, Kemi, Rauma, Saariselkä, Kuusamo and Katinkulta and are leased to Scandic Hotels and Holiday Club on long leases.
'We are pleased that we have been able to grow our presence in the Finnish real estate market over the past year. The acquisition of the hotels from Capman improves our position in the market and we enter the hotel segment which we appreciate a lot,' said Philippe Cervesi, Corum investment director.
'During the last two years, we have signed new long leases and made extensive renovations together with our tenants to the exited hotel properties, so these hotels are in a good position to enable future growth supported by the strong development of the hotel market in Finland,' said Markku Jääskeläinen, investment director Capman Real Estate.
Renger Investment Management (RIM) advised the purchaser.
