CapMan Residential Fund has made its first investment in Sweden with the acquisition of a forward funding project in Örebro from the Swedish developer Serneke for SEK 314 million.
The project includes 139 apartments scheduled for completion in Q4-2024.
The project, situated in the new urban area Tamarinden, is located 2 km to the south of central Örebro, Sweden’s sixth largest city.
The project has high sustainability ambitions and a clear green profile which includes onsite solar collector systems and rainwater collection areas for re-cycling rainwater within the local green areas. The project will pursue Miljöbyggnad green building certification at Silver level.
“This first acquisition in Sweden fits very well with the fund’s investment criteria to invest in modern sustainable residential properties located in major Nordic cities. Through this investment in space efficient, high-quality apartments, we continue on our path to develop a diversified Nordic core residential rental portfolio with stable risk-adjusted returns for our investors,” said Mikael Hjorth, Partner and Fund Director for CapMan Residential Fund.
The Örebro investment is the 4th acquisition for the CapMan Residential Fund, a core fund launched in June 2021, targeting €1.0 billion of equity during 2023.