NRP Asset Management said that it has recently completed the second close for Fund VIII, bringing total committed capital to €86 mln.
Fund VIII held its first close in February 2018 and has now completed its second close raising €33 mln from a number of Norwegian investors.
The Fund, which has a hard cap of €200 mln, has recently acquired six properties in Sweden, three of which are new-built logistics properties with a total area of 55,000 m2 to be delivered by Logistic Contractor in early 2019.
The properties are leased to Atea Logistics, Plantagen and Bring Frigo on long-term contracts with a weighted average unexpired lease term (WAULT) of over nine years. The purchase yield for the portfolio is approximately 6%.
Following the deal, Fund VIII currently owns eight properties located in Sweden and Norway.
NRP is an Oslo-based investment fund manager (AIFM) with 1.5 million m2 of Nordic logistics properties.
