Cavendo grows its AUM in Helsinki and Stockholm
On behalf of two international investors operating partner Cavendo has recently completed two acquisitions in its core markets of Helsinki and Stockholm, for a total underlying property value of approximately EUR 150 million.
Cavendo has, in partnership with a fund managed by Meyer Bergman, acquired Vägaren 24 on Södermalm in Stockholm. The mixed-use property comprising of both commercial and residential units has a 15,300 sqm lettable area.
-We are grateful for the trust Meyer Bergman has put in us. The property benefits from a fantastic location, which has one of the highest high street footfalls in the Nordics and we look forward to managing and further developing the asset, says Joakim Karlsson, CEO at Cavendo.
Recently, Cavendo also completed the acquisition of the Arkardia office building in central Helsinki together with LaSalle Investment Management. The property was acquired by LaSalle E-REGI, an open-ended pan-European core real estate fund. It has a total lettable area of more than 10,000 sqm and is the HQ of the OP Financial Group, the largest financial services group in Finland, as well as several other tenants.
-We are extremely proud to advise a renowned investor as LaSalle Investment Management on their first deal in Helsinki. We already have a successful cooperation in Sweden managing an asset for one of their funds in Stockholm and building on this, we look forward to starting another longstanding partnership with the Arkadia asset, says Joakim Karlsson.
– The number of investors in Cavendo’s network has been growing constantly and the confirmation by the investors in these recent transactions shows that we apply a very relevant business model for core to opportunistic mandates and from Nordic and international investors alike, says Joakim Karlsson.