18 April 2017
Copenhagen
Reporter: Theo Andrew

NREP forms €1.1 billion Nordic logistics fund


Nordic Real Estate Partners (NREP) and a group of international investors have formed a €1.1 billion Nordic logistics real estate fund.

The NREP Logistics Property Fund will be seeded by the largest logistic portfolio in the Nordic region, comprising of 49 modern logistics properties totalling more than one million-square feet.

The portfolio has a weighted average lease exceeding eight years and will be managed by Logicentres, NREP’s logistics operating platform.

Located across prime nordic logistics hubs, the fund will take a long-term approach to the Nordic logistics market, growing the portfolio over time, according to NREP.

According to Jack Cox, head of logistics and industrial EMEA at CBRE, the region offers one of the most stable macro environments in Europe today, representing what is probably the most homogenous prime logistics portfolio at this scale.

Investors include local pension funds such as AP1 and PFA Pension, and international investors such as Allianz and Helga Invest.

Johan Temse, investment manager at AP1, said: ”We view real estate investment in the logistics market as an interesting way to capitalise on future global trade, consumption, ecommerce and supply chain reconfiguration.”

He added: “We are very pleased to do this partnership with an experienced and competent manager as NREP. We look forward to jointly develop this platform going forward to be the largest and best in class Logistics platform in the Nordics.”

Rickard Dahlberg, founding partner and CIO at NREP, said: ”NREP is grateful to have found a group of very knowledgeable investors that share our strategic approach and vision of how to create stable long term value in the Nordic logistics segment.”

Matthias Kettelhoit, commercial head at Logicenters, said: “Additional support from long-term capital will strengthen Logicenters’s position as a long-term developer and provider of modern logistics in the Nordic region.”

More news
The latest news from Real Estate Investment Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Standard Chartered boosts CRE team
11 December 2017 | Singapore | Reporter: Stephanie Palmer
Standard Chartered has named Steven Cranwell as global head of commercial real estate for its global banking business
SoftBank and Compass in ‘largest ever’ US real estate tech investment
08 December 2017 | New York | Reporter: Stephanie Palmer
Real estate technology firm Compass has won $450 million in investment from the SoftBank Vision Fund, in what Compass has called the largest ever real estate technology investment deal in US history
Tristan fund makes first foray into Germany
07 December 2017 | Bonn | Reporter: Stephanie Palmer
The CCP 5 long-life fund, a core-plus fund advised by Tristan Capital Partners, has made its first investment in Germany, acquiring an office complex in Bonn for €35 million
JLL develops UK corporate solutions team
07 December 2017 | London | Reporter: Stephanie Palmer
JLL has named Sue Asprey Price as lead director of its corporate solutions business in the UK, with immediate effect
Link Asset Services appointed as real estate fund administrator
06 December 2017 | London | Reporter: Stephanie Palmer
Warehouse REIT, a specialist warehouse investor managed by Tilstone Partners, has selected Link Asset Services for fund administration
Dutch portfolio sold for €200 million
05 December 2017 | Amsterdam | Reporter: Stephanie Palmer
Patrizia Immobilien AG has sold a portfolio of 61 residential properties in the Netherlands, for around €200 million
Allianz tops off bumper 2017 with Broadway acquisition
04 December 2017 | New York | Reporter: Stephanie Palmer
Allianz Real Estate has acquired a 43 percent stake in 1515 Broadway, New York, a class-A building valued at $1.95 billion