Protego Real Estate Investors is seeking to raise EUR 585 mln in equity for its Nordic Retail Fund. When this sum is combined with gearing of up to 65%, the fund will grow to about EUR 1.65 bn. The core plus Euro-denominated fund will invest in a diversified portfolio, primarily shopping centres, but also retail parks and supermarkets in Sweden, Finland, Denmark and Norway.
Protego Real Estate Investors is seeking to raise EUR 585 mln in equity for its Nordic Retail Fund. When this sum is combined with gearing of up to 65%, the fund will grow to about EUR 1.65 bn. The core plus Euro-denominated fund will invest in a diversified portfolio, primarily shopping centres, but also retail parks and supermarkets in Sweden, Finland, Denmark and Norway.
EFM Sverige, the property services division of Boultbee Land, is Protego's joint venture partner for the fund. EFM has a team of 54 people in the Nordic region and currently manages some SEK 10b n (EUR 1.7 bn) of Nordic retail assets. The company is responsible for asset, property and facilities management for the fund. The initial fund portfolio comprises about EUR 585 mln of retail property assets, located in Sweden and Finland.
Peter de Haas, international investment director at Protego commented: 'According to the INREV Investment Intentions Survey 2007, the Nordic region is the second most popular location for inward investment.'
