Nordic private asset manager CapMan Real Estate has launched its CapMan Hotels II Fund, a second long-term semi-open-end fund focusing on hotel properties in the Nordic region.
The fund has already received €368 million ($429 million) in equity commitments and acquired a seed portfolio consisting of all the current assets in CapMan’s first hotel fund, which was launched in 2008. The seed portfolio includes 29 hotel properties located mainly in Finland, which are fully-let to major Nordic hotel operators, according to CapMan.
“CapMan’s first hotel fund has developed well in the years following the financial crisis, and its investors have expressed a keen interest in a product that combines strong rental income with an open, long-term structure,” said Mika Matikainen, managing partner at CapMan. “In addition to the seed portfolio, CapMan Hotels II looks for additional properties in which to invest, as well as new capital.”
Matikainen added, “We hav
