Through the transaction, NREP acquired half of a newly formed joint venture company to which Genova had previously divested the properties Handelsmannen 1 and Journalisten 1 located in Norrtälje. The transaction took place at an underlying property value of SEK 1.3 billion and included a total of 408 rental apartments, nursing homes, a preschool, and two garages. The rental apartments and nursing home were developed with investment support, of which 246 are currently under construction. The total lettable area amounts to approximately 28,800 sqm, with a current total rental value of approximately SEK 61 million.
Nrep, founded in 2005, is a leading Nordic real estate investment firm and part of the investment platform Urban Partners. With a holistic, long-term approach, Nrep invests across real estate segments in the Nordics and northern Europe, primarily residential, logistics, care homes and offices. Nrep has several times been ranked as the most consistently outperforming real estate investment manager worldwide. Nrep manages in total 8 million square meters in Sweden, Finland, Denmark, Norway, Poland and Germany, and has more than 400 employees across Europe. Among the investors are some of the world’s largest pension funds, insurance companies and asset managers, who in their turn secure the future for millions of senior citizens and beneficiaries.
