Reaching €900 million ($1 billion) in equity commitments, NREP Income+, a semi-open-end fund managed by NREP, has become the largest Nordic core-plus fund raised to date, according to several news reports.
NREP Income+ will target middle-income residential properties, modern logistics facilities and social infrastructure assets.
The vehicle has already invested two-thirds of its equity into an 84,800-square-meter (912,779-square-foot) distribution center near Oslo and two care homes in Stockholm.
NREP’s investor base consists of institutional investors and pension funds, and includes Novo Holdings and Bouwinvest. The fund will raise additional capital on a rolling basis.
