Alma Property Partners held a first close of €160 million ($181.5 million) for Alma IV, the firm’s fourth diversified Nordic value-add real estate fund. The first close was completed with commitments from seven institutional investors from the Nordics and Germany, all of which invested in Alma’s prior funds. Alma IV is targeting total equity capital of €500 million ($567 million) and represents the next step in the continued growth of Alma’s Nordic investment platform.
“We recently completed the investment period for Alma III and have initiated several divestments from a high-quality portfolio spanning residential, light industrial, care and city-center commercial assets,” said Simon de Château, founding partner and chairman at Alma Property Partners. “Alma IV is entering the market at an attractive point in the cycle, with the continued buyer’s market generating compelling risk-adjusted opportunities. We will remain disciplined and focus primarily on cash
