NREP Forms EUR 1.1 Billion Nordic Logistics Platform

Nordic NREP and a group of local and international investors have formed a long-term Nordic logistics real estate fund with an initial property portfolio of more than 1 million sqm, the largest modern logistics platform in the Nordic region .


Share via e-mail

Rickard S Dahlberg. Image: NREP
Rickard S Dahlberg.

NREP has consolidated 49 modern logistics properties to form the seed portfolio of NREP Logistics Property Fund. The EUR 1.1 billion portfolio is the largest portfolio in the Nordics with a footprint in all the prime logistics hubs, modern efficient buildings, a weighted average lease term exceeding 8 years and a blue-chip tenant base that includes virtually all the largest 3PLs in the Nordic region. 
NREP Logistics Property Fund will take a strategic long term approach to the Nordic logistics market and gradually grow the platform over time.  
Investors in the fund include local pension funds such as AP1, PFA Pension, DIP (Danske civil- og akademiingeniørers Pensionskasse), JØP (Juristernes og Økonomernes Pensionskasse), and Lægernes Pension as well as international institutional investors such as Allianz and Helaba Invest. 
”We view real estate investment in the Logistics market as an interesting way to capitalise on future global trade, consumption, e-commerce and supply chain reconfiguration. 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”, comments Johan Temse, Investment Manager at AP1. 
”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”, comments Rickard Dahlberg, founding partner and CIO at NREP.
The portfolio will be managed by NREP’s logistics operating platform Logicenters, the largest manager and developer of modern logistics real estate in the Nordics.
”Additional support from long term capital will strengthen Logicenters position as a long term developer and provider of modern logistics in the Nordic region”, comments Matthias Kettelhoit, Commercial Head at Logicenters.
”This portfolio and platform is not just notable in a Nordic context, as it in combination with one of the most stable macro environments in Europe today, represents what is probably the most homogenous prime logistics portfolio at this scale”, comments Jack Cox, Head of Logistics and Industrial EMEA, CBRE.
The main advisors have been Citi, Goodwin & Procter LLP, Bech-Bruun, Real Advokatbyrå and Roschier. 

Maria Olsson Äärlaht

Scandinavians in Focus in New Sustainable Marbella-project

Nordic Marbella is back on the international market with Real de La Quinta, a model for new, sustainable luxury homes. And Scandinavians are targeted as buyers.

Nordea Moves HQ from Stockholm to Helsinki

Nordic The Nordea Board of Directors initiates a re-domiciliation of the parent company to Finland – operations in all Nordic home markets remain unchanged.

NREP Sells for EUR 168M

Nordic NREP secures the largest portfolio exit of necessity driven retail assets in Sweden in 2017 by selling a portfolio consisting of 11 assets and a total area of 63,500 square meters to Storebrand/SPP.

East Capital Sells Shopping Center in Vilnius

Nordic East Capital Baltic Property Fund II announces today the signing of an agreement to sell the GO9 shopping centre in Vilnius. The fund acquired the property in 2012 and has since re-developed it. The buyer is Lords LB Baltic Fund IV, managed by Lithuanian real estate and private equity investment management company, Lords LB Asset Management. 

Cross-Boarder Investment in Nordics Surges 23 percent

Nordic Cross-border investment into Europe's Nordic countries rose to EUR 5.5 billion in the first half of 2017, 23 percent up on the same period in H1 2016. This represents a 29 percent share of the total volume invested in the Nordics in the year to date, according to research by international real estate advisor Savills.

Skanska Divests for EUR 225M

Nordic Skanska divests two properties in Stockholm and one in Oslo to Vasakronan, Aberdeen and Entra for a total of EUR 225M.

Nordic Property Transactions Set New Record in First Half of 2017

Nordic Driven by a very strong Norwegian and Finnish market, volumes in the Nordic property markets reached a new record in the first half of 2017. Private investors and property funds were particularly active on the buy side and the share of foreign buyers increased significantly, according to Pangea Property Partners report.

Balder New Majority Owner of Serena Properties

Nordic Balder has agreed to acquire 56 percent of Serena Properties, a company currently owned by Ratos, Varma Mutual Pension Insurance Company och Redito.

EQT Closes Its First Real Estate Fund

Nordic EQT closes the EQT Real Estate I fund with commitments totaling EUR 420 million. Around 35 percent of the total commitments have already been invested in four assets.

Fredrik Jonsson New CEO of Niam

Nordic Johan Bergman has decided to take on the role of Chairman of Niam AB and Chairman in all of Niam’s funds. Fredrik Jonsson, the current CIO of Niam, will assume the role of CEO and take over responsibility for the company’s operations effective July 1, 2017.