Nordic Real Estate Partners (NREP) said it has raised SEK 1.6 bn (EUR 165 mln) at the closing of its fourth Nordic fund NREP Logistics. The fund will focus on prime logistics properties in key hub locations throughout the Nordics.

NREP Logistics will have an investment capacity of SEK 3.5 - 4.0 bn, of which SEK 900 mln was invested into a seed portfolio acquired simultaneously with the closing of the fund. The seed portfolio comprises 160,000 m² of prime logistics properties in Sweden and Finland.

The new fund launch is in line with NREP’s strategy of focussing on niche investment sectors in which NREP can build a strong market position. The fund has been set up as a club structure with the main investors being SPP Livförsäkring represented by Storebrand Eiendom, Vattenfalls Pensionsstiftelse, a number of investors managed by Schroders Property Investment Management as well as a number of UK pension schemes represented by CBRE Investors Global Multi Manager.