Alma Property Partners has held an initial €160m close for its fourth diversified Nordic value-add fund, which is targeting €500m in total equity capital.
Alma Fund IV’s first close was supported by seven institutional investors from the Nordics and Germany, all re-upping from Alma’s previous funds.
The manager said the fund has already deployed capital into three light-industrial aggregation strategies across Greater Stockholm, Greater Malmö and Greater Helsinki, and is actively targeting further opportunities in the residential and hotel sectors across Sweden, Denmark and Finland.
Simon de Château, founding partner and chairman at Alma Property Partners, said: “We recently completed the investment period for Alma III and have initiated several divestments from a high-quality portfolio spanning residential, light industrial, care and city-centre commercial assets.
“Alma IV is entering the market at an attractive point in the cycle, with the continued buyer’s market generating compelling risk-adjusted opportunities. We will remain disciplined and focus primarily on cash flow-generating assets where active ownership can unlock additional value, particularly in ‘beds and sheds’, hotels and selected city-centre commercial segments across Sweden, Denmark and Finland.”
Sloan Wobbeking, founding partner and CEO at Alma Property Partners, said: “We are grateful to our institutional investors for their continued support. The fact that all seven investors in the first close have invested in Alma’s prior funds represents a strong vote of confidence in our team, track record and strategy.
“We look forward to building on the strong portfolio created in Alma III by continuing to invest in several proven themes and working with many of the local asset management partners that have contributed to our success.”
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