New Genesta fund raises SEK 3.6 billion at first closing

Fund manager Genesta Property Nordic has made the first closing of its third value-add fund and raised a total of SEK 3.6 billion in the first closing. The fund has a target size of SEK 5 billion, implying a total investment capacity of circa SEK 10 billion.

The targeted annual return on investment is 12-14 per cent and the fund will mainly invest in office properties in Nordic capital region, although it may also invest in logistics and retail in Nordic growth cities.

Eight investors committed to the new fund, all of whom have invested in its predecessors, Genesta writes in a press release.

Sverrir Thór

Källa: Fastighetsnytt