FINLAND - CapMan establishes EUR 835m real estate fund

Linn
18 January 2008

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CapMan has held a first close of CapMan Hotel RE Ky, a real estate fund, on EUR 835m.

The hard-cap for the vehicle is set at EUR 1.1bn. 17 Finnish institutions have committed EUR 292m of equity with the remaining comprising senior debt.

The fund has signed an agreement with Northern European Properties Ltd to acquire 39 of its properties for EUR 805m. The transaction is expected to close by 29 February 2008.

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