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Image Credit CapMan Real Estate
- CapMan Hotels II (CMH II) has agreed to acquire a portfolio of 28 hotels from Midstar Fastigheter AB, significantly expanding and diversifying its Nordic hotel portfolio.
- The acquisition aligns with CapMan’s focus on high-quality assets in key markets and is part of the company’s broader strategy to grow its assets under management within real assets.
CapMan Hotels II (CMH II), a fund managed by CapMan Real Estate, has signed an agreement to acquire a portfolio of 28 hotels from Midstar Fastigheter AB. This significant transaction, one of the largest of its kind in the region, bolsters CapMan Hotels II’s position as a key player in the Nordic hotel investment market.
Midstar Fastigheter AB is a pan-Nordic property company specializing in hotel real estate investments. Its assets are located in Sweden, Denmark, and Norway. Following the acquisition, CapMan Real Estate will manage the assets.
The portfolio comprises 28 hotel properties, offering a total of 4,709 rooms. Through targeted value-enhancing initiatives, the capacity will be increased to 4,887 rooms by 2027. The properties in major metropolitan areas and prime regional locations complement CapMan Hotels II’s existing portfolio and align with CapMan’s focus on high-quality assets in key markets.
Mika Matikainen, Managing Partner of CapMan Real Estate, expressed excitement about the transaction and its potential to strengthen CapMan’s position in the Nordic hotel investment market. The acquisition aligns perfectly with CapMan’s investment strategy, and they see significant potential in this platform.
Thomas Laakso, Partner at CapMan Real Estate, emphasized their commitment to enhancing the sustainability performance of the Midstar Fastigheter portfolio, in line with CapMan Hotels II’s five-star rating in the GRESB sustainability benchmarking.
The acquisition will increase CapMan’s assets under management by EUR 0.4 billion, significantly contributing to its objective of growing assets under management to EUR 10 billion. This also exemplifies CapMan’s capability to generate growth by scaling existing products, one of its three main growth strategies.
The agreement was signed on February 19th, 2025, and the transaction is subject to regulatory approval from the Swedish Competition Authority. The transaction will close shortly after such approval has been granted. Skandinaviska Enskilda Banken AB (publ) acted as the sole financial advisor, Mannheimer Swartling Advokatbyrå AB as the lead legal advisor, and CBRE as the commercial advisor to CapMan Hotels II in this transaction.
