Nordic Fund With $2 Billion Cash Targets Bargain Property Deals
- Investor Nrep has dry powder ready to buy Nordic real estate
- Property firms must sell assets with balance sheets pressured
Urban Partners CEO Claus Mathisen in Copenhagen, Denmark, on Sept. 18.
Photographer: Carsten Snejbjerg/BloombergThis article is for subscribers only.
Sweden’s real estate crisis is proving a boon for a fund that’s preparing to deploy more of its $1.9 billion cash balance snapping up properties from desperate landlords.
Nrep, a Nordic fund that’s part of the Urban Partners investment group, is looking to capitalize on heavily indebted firms such as Samhallsbyggnadsbolaget i Norden AB and Heimstaden Bostad AB as they race to divest properties they can no longer finance using expensive bond debt.