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Nordic real estate fund secures additional 314M kroner in commitments

NRP Fund VIII raised 314 million Norwegian kroner from Norwegian investors at the conclusion of its second close, taking its total committed capital to 819 million kroner.

The Nordic real estate fund, which has a hard cap of 2.00 billion kroner, also bought six Swedish properties.

Three of the newly acquired assets are logistics properties that will be delivered by Logistic Contractor in 2019. Atea Logistics, Plantagen and Bring Frigo occupy the three assets that offer 55,000 square meters of total area under long-term lease agreements.

NRP Fund VIII's portfolio, which includes eight properties across Sweden and Norway, has a roughly 6% purchase yield and a weighted average unexpired lease term of approximately nine years.

As of June 5, US$1 was equivalent to 8.14 Norwegian kroner.