Wednesday, 20 May 2015
NREP secures the exit of the largest Nordic prime logistics portfolio to date (EU)
Nordic Real Estate Partners (NREP), the pan-Nordic real estate investment manager, has sold the largest portfolio of modern prime logistics properties in the Nordics to a consortium of four Danish pension funds.
NREP closes the sale of all underlying assets in its NREP Logistics Fund and three Swedish properties from NREP’s C1 Fund, thereby delivering very strong risk adjusted returns to their investors in these two underlying funds.
The successful and highly competitive process, which was organized by CBRE, attracted international attention with bidders from across the globe, highlighting the strong quality of the portfolio. The combined transaction value amounts to approx. €650 mln and is not only the largest prime logistics transaction in the Nordics, but also one of the largest portfolios traded in Europe. NREP was in addition to CBRE advised by Real Advokatbyrå and Bernstrom & Partners.
The portfolio consists of 28 modern efficient logistics properties located in key distribution hubs across Sweden, Finland and Denmark with almost 650,000 m², of which a large part has been developed by NREP over the past six years. NREP will continue to manage the portfolio of properties.
Rickard S. Dahlberg, Co-CIO and Partner at NREP says: “We are very proud of having secured such a strong exit for our investors and believe this is another validation of NREP’s ability to identify and execute long term value add strategies within focused segments.”