CapMan continues to advance in the Swedish residential market. In March, the company announced two acquisitions in Stockholm: a completed project in Barkarby from Slättö, and two projects – one in Barkarby and one in Flemingsberg – from Reliwe.

“We continue to believe strongly in the urbanisation trend, as well as the ongoing imbalance between supply and demand in growth regions. Combined with still-limited new construction, this creates long-term attractive investment opportunities with solid risk-adjusted returns for our investors,” says Pontus Danielsson, and continues:

“When evaluating different investment opportunities, we place significant emphasis on micro-location factors, including demographic patterns, labour market conditions and transport connectivity, as demand and market fundamentals differ considerably between areas – even within the Stockholm region. The recent acquisitions fit very well with our strategy and have been executed through different structures depending on the individual risk profile of each investment. This provides us with the opportunity and flexibility to invest both through our core residential fund and through our value-add structures when it comes to residential investments.”

The three acquisitions in Stockholm follow two others announced last summer. With a total of five major residential acquisitions over the past year, CapMan views the Stockholm area as one of the most attractive markets in Europe.

“We see the residential market in Stockholm as one of the most attractive investment markets in the Nordics and Europe. For this reason, we have been very active in increasing our exposure to this segment over the past year, having announced acquisitions of approximately 1,400 apartments across the five projects you mention. In addition, we have acquired another large residential development project comprising more than 300 apartments, which we expect to take possession of during the summer of 2026. Overall, this means that since July 2025 we have acquired roughly 1,700 residential units across both development projects and completed properties,” says Pontus Danielsson.

“We have seen gradually increasing interest in the segment over the past twelve months, primarily driven by increasingly active foreign institutional capital. Market sentiment has improved progressively, with yields stabilising and in some cases beginning to decline, reflecting strong investor demand. We continue to have strong confidence in Stockholm as a submarket and still see attractive opportunities, although competition is increasing as sentiment strengthens. A significant share of our sourcing is conducted off-market, which gives us good prospects for identifying attractive investment opportunities going forward in the sub-areas we believe in most.”

How do you view residential investments in other Swedish cities?

“At present, Stockholm is our primary focus market, but we continuously evaluate opportunities in both the Gothenburg and Malmö regions. We also own a residential property in Örebro, and our mandate allows us to invest in larger regional cities. Over time, we see ourselves being active in the three largest growth regions, although our main focus remains Stockholm.”

How do you plan to continue growing within residential investments – do you have a target for how much you want to invest in Swedish housing?

“Since the summer of 2024, when we acquired our first project in Stockholm comprising 289 apartments in Ursvik, we have gradually built up a portfolio of nearly 2,000 apartments in the Stockholm region. The residential segment continues to be a major focus across several of our strategies, particularly in Sweden and Denmark. We plan to continue expanding the portfolio in Stockholm and see significant potential for substantial growth in the coming years.”

It is not only Stockholm and residential assets that have been on CapMan’s radar recently. The company has carried out acquisitions across the Nordic region and moved between different segments, including social infrastructure real estate.

“Historically, our funds have been very successful within both the residential and social infrastructure real estate segments, and these areas remain in focus for both our value-add funds and our thematic funds. In 2024, we launched the social infrastructure fund CapMan Social Real Estate – an open-ended structure focused on core assets. So far, we have completed several investments in Denmark, Norway and Finland, and we are actively seeking investment opportunities in Sweden,” says Pontus Danielsson.

“At the same time, we continuously assess opportunities within the logistics segment and have made a number of investments there, including a joint venture with Panattoni in Gothenburg. Our value-add funds are fundamentally sector-agnostic, which gives us the flexibility to act where the most attractive opportunities arise. Going forward, we will therefore continue to invest in residential and social infrastructure real estate through our thematic funds, while our value-add funds will invest more broadly, albeit with a clear focus on residential assets.”