NREP raises €3.65 billion for latest fund

NREP has announced a final close of €3.65 billion for its fifth value-add real estate fund.

The ESG-focused real estate manager said the new vehicle would invest in underserved real estate segments across the Nordics and selected Northern European markets. “The focus is on residential rental properties, modern logistics facilities, care homes and offices, where the company can create value through customer-centric and decarbonising solutions,” NREP said in a statement.

Rune Kock, CEO, NREP, said:“The significant scale of this fund enables NREP to make a meaningful impact through our focus on customer-centric and decarbonising ­real estate strategies, and set a positive example for the industry to follow and ultimately scale. 

“By focusing on structurally supported sectors and demographically driven trends, we have the proven ability to create value across cycles whilst demonstrating the commercial viability of brown to green real estate transition strategies.”

NREP is now part of Urban Partners, a sustainable investment platform with €20 billion in assets under management, which also houses venture capital firm 2150, credit platform Velo Capital, and private equity investor Luma Equity.

The new fund has made 33 investments to date, including the Vällingby Centrum project in Stockholm, which was acquired for an environmental and social sustainability-focused enhancement strategy.