Institutional real estate investment manager Bouwinvest has committed €50m to Scandinavian manager Genesta’s Fund GNREF II Fund, which invests mainly in offices and retail in larger urban areas in Sweden, Norway, Denmark and Finland.
Stephen Tross, Bouwinvest Managing Director International Investments said: “The Nordic real estate markets are considered to be relative stable and benefit from positive long-term economic trends. This matches Bouwinvest’s international investment strategies.”
Genesta’s GNREF II is a closed end fund with an investment duration of seven to nine years and a target volume of €500m to €700m. The fund has completed its first acquisitions in Oslo and Helsinki.
This latest commitment raises Bouwinvest’s total investment allocation to European markets outside of its domestic base in the Netherlands, to over €1bn.
