Pan-Nordic real estate investment manager Areim has completed the final close of its fourth value add real estate fund with EUR 685 million of commitments, including EUR 150 million of co-investment capital, to be invested in primarily office, residential, light industrial and data centre assets across the Nordics.
Areim Fund IV received capital from a diverse group of new and existing investors, including public and private pension funds, insurance companies, sovereign wealth funds, foundations, asset managers, and fund of funds from the Nordics, Europe, Asia and the Middle East.
The fund will continue the proven value add investment strategy of predecessor funds and target well-located, typically underinvested properties with potential for development in the office and residential sectors and will also invest in light industrial, data centres and other sectors in the region. The fund is expected to be over 50% committed by end of Q1 2020.
“We are incredibly thankful for the continued strong support from our existing investors and grateful to the new investors who have placed their trust in us. Our primary objective is to be good stewards of our investors capital by delivering attractive stable returns across market cycles through a mix of cash flow producing assets and by leveraging Areim’s in-house asset management team to add value through redevelopment and repositioning”, says Therese Rattik, CEO at Areim.
The establishment of Areim Fund IV was advised by Evercore and Andulf Advokat.