Private equity firm Nordic Real Estate Partners (NREP) has formed a €1.1 bn logistics platform with a group of local and international investors.
Comprising an initial property portfolio of 49 modern logistics assets representing over 1 million m2, NREP said that it was the largest, prime logistics portfolio in the Nordics, with a weighted average lease term exceeding 8 years and a blue-chip tenant base.
'NREP is grateful to have found a group of very knowledgeable investors that share our strategic approach and vision of how to create stable long term value in the Nordic logistics segment,' commented Rickard Dahlberg, founding partner and CIO at NREP.
Investors in the fund include local pension funds such as AP1, PFA Pension, DIP (Danske civil- og akademiingeniørers Pensionskasse), JØP (Juristernes og Økonomernes Pensionskasse), and Lægernes Pension as well as international institutional investors such as Allianz and Helaba Invest.
'We view real estate investment in the logistics market as an interesting way to capitalise on future global trade, consumption, e-commerce and supply chain reconfiguration. We are very pleased to do this partnership with an experienced and competent manager as NREP. We look forward to jointly develop this platform going forward to be the largest and best in class logistics platform in the Nordics,' said Johan Temse, Investment Manager at AP1.
The portfolio will be managed by NREP’s logistics operating platform Logicenters, which NREP calls 'the largest manager and developer of modern logistics real estate in the Nordics'.
'Additional support from long-term capital will strengthen Logicenters' position as a long-term developer and provider of modern logistics in the Nordic region,' added Matthias Kettelhoit, commercial head at Logicenters.
'This portfolio and platform is not just notable in a Nordic context, as it in combination with one of the most stable macro-environments in Europe today, represents what is probably the most homogenous prime logistics portfolio at this scale,' concluded Jack Cox, head of logistics and industrial EMEA, CBRE.
Principal advisors on the deal included Citi, Goodwin & Procter, Bech-Bruun, Real Advokatbyrå and Roschier.
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Real Estate Private Equity UBS Asset Management - Atrium, 7th Floor, 5 Broadgate, London, EC2M 2QS, United Kingdom | 08:00 - 11:00
For the first time, PropertyEU has organised a private equity real estate event examining the European market.
Hear from Ric Lewis, Chief Executive and Chairman of Tristan Capital Partners, as he delivers a TED-style talk followed by an interview on the realities of investing in 2017.
Joining him are Thomas Wels, Head of Real Estate and Private Markets at UBS Asset Management, plus two prominent investor-consultants: Paul Richards, Head of European Real Estate at Mercer and Paul Jayasingha of Willis Towers Watson.
Highlights include:
- What the top private real estate firms are doing
- Which strategies investors/limited partners are keen on
- How the competitive landscape is shaping up
- Who are the emerging managers to watch?
- Insights into the fund management industry
Attendance is free but places are strictly limited. Please register early to book your place.
Nordics Investment Briefing
The Lansdowne Club, 9 Fitzmaurice Place, London, W1J 5JD, United Kingdom | 08:00 - 10:30
Sweden, Norway, Finland and Denmark have attracted record levels of investment in the last few years. Will international investors' interest continue and grow in the next twelve months? With political risk a big factor in the UK and continental Europe this year, will the Nordics continue to benefit from their safe haven status? Is competition becoming too intense? Where are the best opportunities? Will Sweden continue to lead the way, and is there a problem with lack of supply? Will Denmark benefit from its Nordic status and proximity to mainland Europe? Will Finland continue to detach itself from its neighbour, Russia, and look West? Will real estate replace oil as the boom sector in Norway? Urbanisation is a key trend in the Nordics: is residential the sector that offers the most opportunities? What are the prospects for retail, from shopping centres to high street shops to inner city convenience stores? Will logistics be as successful as they are in the UK and Germany? In a dynamic economy, how well is the office sector likely to perform? What about student housing, healthcare and other alternative sectors?
Come to this time-efficient briefing, hear the opinion and forecasts of market expert, and ask your own questions
Attendance is free but places are strictly limited. Please register early to book your place.
