NREP closed its latest value-add vehicle, NREP Nordic Strategies Fund II, at €600 million, surpassing both the €400 million target and the initial €500 million hard-cap. Similar to its previous offering, the fund – launched in November 2015 – will invest into modern logistics, retail and residential opportunities, as well as tackling new sectors such as student housing.
Investors in the fund include Nordic, European and American blue chip institutions, with most of the firms committed to the predecessor fund re-upping. The fundraise was advised by Lazard LLC and Goodwin Procter LLP.
NREP's previous vehicle held a final close in December 2014 at €400 million, above the €325 million target.