CapMan Real Estate sells its Yrjönkatu 17 property

GlobeNewswire Europe

CapMan Press Release 27 June 2014 at 2:30 p.m. EEST

 

CapMan Real Estate sells its Yrjönkatu 17 property

CapMan Real Estate sells its Yrjönkatu 17 property to EM Group Oy and Sewatek Oy. The exit will not change CapMan`s outlook estimate for 2014 given on 8 May 2014.

The Yrjönkatu 17 property is situated in central Helsinki and built in 1936. The property is a part of the Scandic Marski hotel and comprises of 67 hotel rooms and 40 parking spaces. The property is leased to Scandic with a long-term lease agreement.

"We are very pleased with our investment in Yrjönkatu 17. We saw great potential in the property from the very beginning and our work on value creation has been very successful," comments Pirjo Ojanperä, Partner of CapMan Real Estate.

The transaction has a positive impact on CapMan Group`s financial result for 2014 through carried interest income. The exit will not change CapMan`s outlook estimate for 2014 given on 8 May 2014. CapMan estimates its earnings per share to improve significantly from the level achieved in 2013 primarily due to increasing operating profit.


For further information, please contact:

Pirjo Ojanperä, Partner, CapMan Real Estate, tel. +358 50 388 3306

Mika Matikainen, Senior Partner, Head of CapMan Real Estate, tel. +358 40 519 0707

 

CapMan Real Estate www.capman.com

CapMan Real Estate manages five real estate funds: the CapMan Nordic Real Estate fund, which is in active investment phase and investing in office, retail and residential properties located in the Nordic countries, the CapMan Real Estate I fund, which is focused on commercial properties in Greater Helsinki, the CapMan RE II fund, which is focused on commercial and development projects around Finland, the CapMan Hotels RE fund, which owns hotel properties, primarily in Finland and a project-specific hotel property fund, CapMan Yrjönkatu 17 Ky, which owns a hotel in central Helsinki. The team comprises over 25 people based in Helsinki, Stockholm and London.

CapMan Real Estate is part of CapMan Group, a leading private equity firm in the Nordic countries and Russia, with assets under management of €3.1 billion. CapMan has five key investment partnerships - CapMan Buyout, CapMan Russia, CapMan Credit, CapMan Public Market and CapMan Real Estate - each of which has its own dedicated investment team and funds. Altogether, CapMan employs approx. 100 people in its offices in Helsinki, Stockholm, Oslo, Moscow and Luxembourg. CapMan was established in 1989 and has been listed on the Helsinki Stock Exchange since 2001.

EM Group Oy www.emgroup.fi

EM Group is a family business based in Finland. Its main focus is to develop and own international, industrial enterprises and real estates. EM Group operates in 20 countries.

Sewatek Oy www.sewatek.fi

Sewatek Ltd. has 25 years of experience in producing prefabricated service penetration units for the building and construction industry. The products are assembled and manufactured in Mäntsälä, Finland. In addition, the company engages in trading securities and real estate rental business. 




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: CapMan Oyj via GlobeNewswire

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