Bouwinvest has committed €50 mln to the Genesta Nordic Real Estate Fund GNREF II, which invests mainly in offices and retail in larger urban areas in Sweden, Norway, Denmark and Finland.

emea the nordics flags rs

Emea the Nordics Flags Rs

'The Nordic real estate markets are considered to be relative stable and benefit from positive long-term economic trends. This matches Bouwinvest's international investment strategies,' commented Stephen Tross, Bouwinvest managing director international investments. 'The Genesta fund's value-add strategy of renovation, redevelopment and re-letting in core markets in the region is offering us attractive risk-adjusted returns in a very competitive environment.'

GNREF II is a closed-end fund with an investment duration of seven to nine years and a target volume of €500 to €700 mln. The fund has completed its first acquisitions in Oslo and Helsinki.

'Bouwinvest has a good working partnership with Genesta and we are confident they will deliver on the GNREF II Fund’s strategy on the basis of their strong investment track record and these first four transactions,' added Cathelijne Martin, Bouwinvest regional manager Europe.

This latest commitment raises Bouwinvest’s total investment allocation to European markets outside of its domestic base in the Netherlands to over €1 bn.