NRP Fund VIII recently completed its second close, bringing the total committed capital to NOK 819 million. In addition, the Fund recently acquired six properties in Sweden.
Fund VIII had its first close February 2018 and has now completed its second close of NOK 314 million from Norwegian investors. The total committed capital for the Fund is currently NOK 819 million, while the Fund has a hard cap of NOK 2,000 million.
Fund VIII's latest investments are six properties located in Sweden, of which three are new-built logistics properties with a total area of 55,000 sqm to be delivered by Logistic Contractor in early 2019. The properties are leased to Atea Logistics, Plantagen and Bring Frigo on long-term contracts.
In accordance with NRP Asset Management´s long-term strategy and investment approach focusing on the logistics sector, the current portfolio for Fund VIII consists of eight properties located in Sweden and Norway. The purchase yield for the portfolio is approximately six percent and the weighted average unexpired lease term (WAULT) is approximately nine years.
“We are proud to grow our portfolio with these top modern logistics properties, built for the future. Further, this portfolio produces solid dividends to our investors, which is an important element in our strategy,” says Fund Manager Eirik Forthun.
Among them is Atea’s new central distribution center, including a top modern recycling unit for IT-products developed to handle increasing volumes in the Nordic countries.
”We are still building the portfolio for Fund VIII and the new investments in Sweden are in line with our strategy. We have identified upside potential which we will strive to capitalize on”, says Forthun.
NRP will continue to provide value and consistent dividends to investors by investing in the Nordic region, purchasing modern commercial properties at attractive prices, with long-term contracts and solid tenants.
With a strong track record within the Nordic Real Estate Fund sector, NRP is well positioned to utilize future opportunities in the Nordic region.
NRP is an Oslo-based, Nordic Real Estate alternative investment fund manager (AIFM). With approximately 1.5 million sqm of Nordic logistics properties NRP is the largest non-listed player in this segment.
NRP Asset Management AS
Tel: + 47 23 11 58 84
Mobile: +47 99 40 44 77