The new fund targets a return of 12-14 percent by investing predominantly in offices in the capital city regions of the Nordics but also logistics and retail in the capital city regions and larger regional cities. Value is added through refurbishment, lease up and repositioning of assets. With leverage, the fund has a target real estate investment volume of ca 900 million euros.
“We are very pleased with the strong support from our existing investor base. This is a testament to the success of the predecessor funds and our clients’ strong belief in our strategy,” says David Neil, CEO and founding partner of Genesta.
The fund now seeks additional capital from investors to arrive at its target of 450 million euros.