Round Hill Capital has entered the Nordics with a $200m (€177.3m) industrial portfolio deal.
The firm bought the 18 assets, in Norway, Sweden and Denmark, in partnership with StepStone Group Real Estate.
Michael Bickford, founder and chief executive of Round Hill Capital, said: “Round Hill has been evaluating the Nordic markets for several years.
“We believe the Nordic region benefits from positive macro-economic trends, attractive yields for commercial, industrial and logistics properties and strong rental growth.
“The portfolio provides stable rental income and positive risk adjusted returns consistent with our overall investment strategy,” Bickford added. “We will build a local management team and continue to look in the market for other portfolios and assets with similar value characteristics.”
The 326,000 sqm portfolio was sold by NLI Eiendomsinvest, based in Oslo, Norway.
Per Morten Kiil, chief executive of NLI Eiendomsinvest, said the sale is the final disposal by the fund.
“We continuously worked towards optimizing the portfolio and this sale meets the strategic objectives and targets of the Fund as it approaches maturity.
He added: “The fund seized upon the opportunity of the strong interest from international investors to enter the Nordic logistics and industrial market.”