Nordika raises SEK 550 million (apx. EUR 60 million), in the first close of its second structure.
Nordika Fastigheter (“Nordika”), a leading Nordic real estate investment firm, announces that it has held a first close of its second Nordic structure, Nordika Fastigheter 2 (“Nordika 2”), with capital commitments of SEK 550 million, with a target for final close of SEK 750-1,000 million.
Nordika 2 will invest in a broad range of real estate assets across the Nordics. The firm has proven its ability, to repeatedly source and close a large number of transactions in challenging market environments.
Jonas Grandér and Gabriel Cronstedt, the two founders, have created an independent and highly driven organisation ultimately delivering top tier returns. Nordika 2 will continue Nordika’s proven real estate investment and asset management activities.
Nordika 2 investors comprise of institutional capital from the Nordics, including corporate and public pension funds. Five of Nordika’s six investors have subscribed to Nordika 2. Among the lead investors in Nordika 2 are LM Ericsson, Volvo AB and LocalTapiola.
To date Nordika has invested circa SEK 1,300 million, in seven transactions, with approximately 85% of the capital committed since inception in 2011. Nordika has delivered annual cash dividends in excess of 10% and through a partial exit, Nordika has already repatriated 30% of invested equity back to the investors based on an average investment period of just 12.5 months.
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