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CapMan Oyj: CapMan Real Estate sells a hotel facility in central Tampere to TOAS

CapMan Real Estate Press Release 31 March 2016 at 2.30 pm EEST

CapMan Real Estate sells a hotel facility in central Tampere to TOAS

The CapMan Hotels RE fund sells its holding in Kiinteistö Oy Tampere
Satakunnankatu 10 to the Tampere Student Housing Foundation (TOAS). The
transaction is completed on 31 March 2016 when the tenure is transferred to
the new owner. The lease with Restel, which operated Hotel Cumulus Pinja in
the property, expired at the end of 2015.

TOAS will convert the hotel facility into student housing comprising 74 units.
The conversion project is expected to be completed by the start of the autumn
2016 semester.

"We are happy with the transaction and expedient sales process, the timing of
which was most convenient for the fund. The Tampere region has experienced an
increase in hotel supply in recent years and the property is small for hotel
use compared to other assets in our hotel portfolio. We are pleased that the
new owner will develop the property to benefit Tampere's students, who will
be able to enjoy high quality city living," comments Pirjo Ojanperä, Partner
at CapMan Real Estate.

Timo Lehto, CEO of TOAS, is also pleased with the transaction. "The central
address of the property meets the location criteria for student housing. It
is difficult to find suitable plots to build new student housing in central
Tampere. As a result, TOAS has focused on finding alternative ways to respond
to the growing demand for city living among students," Lehto comments.

The CapMan Hotels RE fund was established in 2008 and it manages 40 hotel
properties in Finland and Sweden, including the Crowne Plaza and GLO Hotel
Art in central Helsinki.

For more information, please contact:

Pirjo Ojanperä, Partner, CapMan Real Estate, tel. +358 50 388 3306
Timo Lehto, CEO, TOAS, tel. +358 40 514 8846

CapMan is a leading Nordic investment and asset management company active in
the private equity industry. For more than 25 years, we have been developing
companies and real estate and supporting their sustainable growth. We are
committed to understanding the needs of our customers in an ever-changing
market environment. Our objective is to provide attractive returns and
innovative solutions for our investors and value adding services for
professional investment partnerships, growth-oriented companies and tenants.
Our independent investment partnerships - Buyout, Real Estate, Russia and
Credit - as well as our associated company Norvestia are responsible for
investment activities and value creation. CapMan's service business offering
includes fundraising advisory services, purchasing activities and fund
management services to both internal and external customers. CapMan has 100
private equity professionals and assets under management of €2.8 billion.


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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