Urban Partners raises more than €3.6b for new NREP fund

Urban Partners has raised €3.65 billion ($4 billion) of investments for a fund managed by its Northern European real estate business, NREP, making it the largest European value-add real estate fund to date.

The new fund, NSF V, attracted investor capital primarily from existing Urban Partners investors. The investor base was globally diversified and predominantly consisted of pension funds, insurance companies and sovereign wealth funds. The fund was significantly oversubscribed and had an aggregate demand from investors exceeding €4.2 billion ($4.5 billion).

NSF V will address underserved real estate segments across the Nordics and selected Northern European markets. The focus is on residential rental properties, modern logistics facilities, care homes and offices, where the company can create value through customer-centric and decarbonization solutions. NSF V has a substantial pipeline and already has committed about one-third of its capital to 33 investments.