Nordika Fastigheter (“Nordika”), a leading Nordic real estate investment firm, announces that it has held the final close of its third structure, Nordika III Fastigheter (“Nordika III”), with capital commitments exceeding SEK 1 billion.
Nordika III has already committed 40% of the equity in two separate transactions since first close where equity value is up more than 100% in less than a year.
Nordika has decided to close the structure prematurely as the equity target have been achieved in combination with the significant value increases already accomplished in the first two investments.
Similar to previous structures, Nordika III will invest in value add real estate investments, with a target to deliver opportunistic returns from special situations supported by yielding income assets. The investment mandate includes a broad range of real estate assets across the Nordic region.
Nordika has proven its ability, to repeatedly source and close a large number of transactions with superior returns. In a recent ranking by Preqin, Nordika I took the number 3 position among the top performing close-end value added private real estate funds, globally and across all vintages (3.7x and 62% IRR).
Nordika III will continue Nordika’s proven real estate investment and asset management activities. The investor base consists mainly of corporate pension funds and insurance companies from Northern Europe.
Jonas Grandér, CEO and co-founding partner of Nordika, comments:
“We are pleased that our investors once again have given us their confidence to continue our successful strategy, and in our capabilities to achieve superior risk-adjusted return. More than 80 per cent of our investors in Nordika II have renewed and increased their commitment to Nordika III.”
For additional information, please contact:
Jonas Grandér, CEO Nordika, Tel: +46 70 750 94 94, firstname.lastname@example.org
Gabriel Cronstedt, COO Nordika, Tel: +46 70 887 09 95, email@example.com
Nordika is a non-listed Swedish real estate company owned primarily by institutions from Northern Europe. Its focus is on investments primarily in Sweden and Finland (with flexibility to invest in Denmark and Norway). Since the inception in 2011 Nordika have acquired and managed properties with a value of SEK 6 billion and acquired significant equity interest in the listed real estate company Amasten with an underlying asset value of SEK 7 billion. Nordika has earned a reputation for being creative and having exceptional capabilities to stabilize complex assets due to its ability to implement change which has resulted in stabilized re-positioned properties delivering high returns to its investors.