CapMan Real Estate fund CapMan Hotels II has signed an agreement to acquire Midstar Fastigheter AB, a well-established Nordic hotel real estate portfolio, encompassing 28 assets in the Nordics.
The deal is one of the largest of its kind in the region and significantly expands and diversifies CapMan Hotels II’s Nordic hotel portfolio, strengthening its position as a key player in the Nordic hotel investment market. The transaction significantly contributes to CapMan Plc’s long-term objective to grow the company’s assets under management within real assets.
Midstar Fastigheter AB is a pan-Nordic property company focused exclusively on hotel real estate investments, with assets located in Sweden, Denmark, and Norway. The assets will be managed by CapMan Real Estate.
The acquired portfolio comprises 28 hotel properties, offering a total of 4,709 rooms, with plans to increase the capacity to 4,887 rooms by 2027 through targeted value-enhancing initiatives.
The acquisition grows CapMan’s assets under management by EUR 0.4 billion and significantly supports CapMan’s objective to increase assets under management to EUR 10 billion during the ongoing strategy period. It is also an excellent example of how CapMan can generate growth by scaling of existing products, which is one of CapMan’s three main growth levers alongside new product launches and M&A.
The agreement was signed on February 19th, 2025. The transaction is subject to customary regulatory approval from the Swedish Competition Authority and the transaction will close shortly after such approval has been granted.
What they said
Mika Matikainen, managing partner of CapMan Real Estate, said: “We are excited about this transaction and its positive impact on our hotel fund. The acquisition of this high-quality portfolio outside of Finland strengthens our position as a key player in the Nordic hotel investment market, and it aligns perfectly with our investment strategy. We see significant potential in this platform and are confident in its ability to deliver strong returns, driven by the continued growth of the Nordic hotel market.”