Fundraising - NOVEMBER 14, 2016

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NREP holds final close of Nordic fund

by Andrea Waitrovich

Nordic Real Estate Partners has held a final close for its NREP Nordic Strategies Fund II with an investment capacity of €1.7 billion ($1.8 billion) to be invested primarily in modern logistics, necessity-driven retail and residential.

The investors in the fund include a broad range of Nordic, European and U.S. institutions.

NSF2 will continue the investment strategies of prior funds in the series, focusing on modern logistics, necessity-driven retail and residential properties in Denmark, Sweden, Finland and Norway, but also will engage in new strategies, such as student housing. The fund is already 35 percent committed and is expected to be more than 50 percent committed by the end of 2016.

In August, NSF2 acquired more than 600 apartments in Helsinki and main growth centers in Finland.

Recently, its predecessor entered an agreement with the Swedish property company Heimstaden to sell three residential properties. NREP Nordic Strategie

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