NREP has closed its second pan-Nordic property fund.

The real estate investment manager declined to specify how much it raised for its Nordic Strategies Fund II, which it said would invest more than €1.7bn across the region.

International institutional investors backed the vehicle, which invests mainly in Nordic retail, logistics and residential property.

NREP said the fund would also invest in student housing.

The fund made its first investments earlier this year.

In May, the manager said it bought more than 600 apartments in Finland for the vehicle.

Gustaf Lilliehook, a partner at NREP, said: “We continue to see attractive opportunities in the sub-segments that we target and are increasingly benefiting from our operating platforms in both our sourcing and value-add activities.

“We are honoured and grateful for the strong support from both new and existing investors. We will do our utmost to continue to deserve their trust by delivering stable returns across cycles based on a combination of strong non-cyclical income and value uplift from hands-on asset management.”

NSF2 is investing in Denmark, Sweden, Finland and Norway.

The fund is 35% committed and expected to be more than 50% committed by the end of this year.