Nordika secures €385 million (sek 4,250 million) for its latest value add fund
Nordika is pleased to share an update on Nordika V, its latest value-add real estate fund focused on special situations and complex acquisition opportunities across the Nordics.
Since inception, Nordika has completed more than 29 investments across the Nordic region, with 15 realised assets generating an aggregate 3.1x gross return and no realised losses to date. Nordika has also been recognised by Preqin as one of the most consistent top-performing private real estate managers globally.
Nordika V has now secured commitments of approximately €385 million (SEK 4,250 million), with additional investors in advanced processes. Total commitments to the Fund will be capped at €500 million (SEK 5,500 million).
The Fund has already secured its first investment: a SEK 500 million (c. €45 million) commitment to Vendus, an established Swedish grocery-anchored retail platform. Vendus currently owns a diversified portfolio of 114 assets across Sweden, with approximately 81% of rental income derived from grocery-anchored stores and 97% economic occupancy. ICA, Axfood and Coop are the largest grocery tenants, with the portfolio primarily focused on daily goods and discount retail.
Vendus represents a particularly compelling seed investment for Nordika V, providing exposure to a resilient and non-cyclical segment with stable and predictable underlying cash flows. The investment was sourced off market through an existing platform where Nordika has deep experience and active board involvement following an investment by the predecessor fund. The price for Nordika V’s commitment was locked in December 2025. Since then, continued execution of the business plan, including a recently agreed acquisition of assets from Sweden’s leading grocery tenant on long-term leases, indicates meaningful embedded value uplift for Nordika V.
In parallel, Nordika V has a broad and active pipeline across the Fund’s target strategies and markets. Current opportunities include recap of distressed residential platform, big-box discount retail, light industrial, industrial outdoor storage, self-storage, preferred equity opportunities, and value-add hotel situations across the Nordic region.
With approximately €385 million (SEK 4,250 million) of commitments secured, the Fund’s first investment completed and final close targeted for second half of 2026, Nordika V is well positioned as the Fund enters the next phase of its investment process.
For further information about Nordika V and its current investment pipeline, please contact Nordika’s founders, Jonas Grandér at jg@nordika.se or Gabriel Cronstedt at gc@nordika.se.
