Pan-Nordic real estate investment manager NREP has held a final closing of its NREP Nordic Strategies Fund II (NSF2), which has an investment capacity of €1.7 bn.
The fund will focus primarily on modern logistics, necessity driven retail and residential.
'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,' commented Gustaf Lilliehook, partner at NREP.
'We continue to see attractive opportunities in the sub-segments that we target and are increasingly benefitting from our operating platforms in both our sourcing and value add activities,' Lilliehook added.
The investors in NREP Nordic Strategies Fund II (NSF2) include a broad range of Nordic, European and US blue chip institutions. NREP said that continued support from investors in its previous fund enabled them to reach rapid oversubscription.
NSF2 will invest in the modern logistics, necessity-driven retail and residential sectors in Denmark, Sweden, Finland and Norway, as well as student housing.
The fund is already 35% committed and is expected to be more than 50% committed by the end of 2016.
NSF2 was advised by Lazard and Goodwin Procter.
