Strategic city development JV with the city of Copenhagen for development of all retail in North Harbour, Copenhagen.

In 2015, NREP formed a strategic JV with City & Port (By & Havn), the local government body for development of Copenhagen city, who NREP has worked with on several occasions previously, to take a strategic approach to developing the retail offerings of the first phase of North Harbour – the largest new city development in Copenhagen for the coming decades.

North Harbour is attractively located right by the waterfront, just north of downtown Copenhagen and is connected with all the central train lines and will soon be connected with the new metro line as well. The inner harbour areas have already evolved into an attractive maritime city district with a mix of residential, office and retail properties.

The joint venture sets out to ensure that the area becomes a vibrant, dynamic and sustainable neighbourhood for generations to come catering to the needs of many diverse stakeholders. We aim to create and enrich a thriving community encompassing all offerings from cafes, restaurants and bars to gyms, a cinema, entertainment, workshops, forums, craft shops, art galleries, etc. 50% of the lettable areas have already been let and it is expected that the last tenants will move in 2020.

In addition to retail, NREP is also involved in a number of regular residential properties as well as a student housing project in North Harbour.

Bringing a new modern shopping centre to the 3rd busiest railway station in Finland – Dixi is making everyday shopping more convenient for both long distance passengers, commuters and local residents.

Dixi retail centre is located in the capital region at Tikkurila railway station, which sees over 10 million people travelling through every year and with the completion of the retail centre, the station and surrounding area finally gets the everyday retail selection that it needs. The centre offers fast and easy shopping featuring some 50 units of grocery stores, restaurants and cafés, a medical clinic, a gym and many other services.

NREP acquired Dixi directly from its developer in 2014 and has since then played a key role in its development being hugely involved in the letting and planning of the commercial concept. NREP is fully responsible for operating the centre and building the brand, which today is well-known throughout the capital region of Finland.

Dixi is located in a substantial public transportation hub and a developing residential and office area. Prior to the development of the shopping centre, the retail offerings in the area were relatively outdated and not sufficient for the expansion the area was undergoing. Now Dixi has broadened the retail offering of Tikkurila to a modern-day standard and improved the image of the entire area. The centre has been well-received among consumers and has exceeded expectations in terms of both sales and visitor numbers during the first years of its operations.
The first phase of Dixi opened in 2015 and the centre was fully completed in the spring of 2017 with the opening of phase II. NREP’s strategy is to continuously improve the centre’s brand and attractiveness through actively marketing it and by bringing in new interesting retailers to the centre.

To visit Dixi’s website, please click here: http://www.dixi.fi/en

JV with local partner to develop from greenfield zoning to a successful big box shopping centre in Copenhagen suburb.

In 2014, NREP and local developer NPV entered a strategic JV to acquire and develop a greenfield project in Herlev council, a Copenhagen suburb. The land plot was acquired from a listed real estate company and was already zoned for the purpose and 80% let upon NREP’s commitment. The project, fully owned and controlled by NREP, resulted in a 45,000 sqm big box shopping centre located adjacent to local train lines, busses and main arterial roads closely connecting it to the entire greater Copenhagen region.

The centre represents a unique retail concept and stands out both in terms of its location, layout and tenant scheme including 26 well-known brands combining traditional shopping centre food and fashion anchor tenants, alongside a large leisure offerings, big box retailers, everyday grocery stores, a new concept cinema and a gym. The tenants include solid local and international brands like Føtex, H&M, Elgiganten, Jysk, Power and Nike and many more.

The well-branded “BIG” shopping centre was finalised and opened autumn 2015 and made a very successful start to the Christmas rush.

The council’s mayor was quoted in national newspapers ahead of the opening expressing excitement for the new BIG Shopping Centre and explaining how it will boost the area and make the suburb a destination point for retail shoppers creating more local jobs and prosperity in the council. The location, which before being rezoned to commercial use housed a factory producing metal goods, is now breathing new life into the surrounding community and thereby adding huge value to the area.

Please visit the shopping centre’s website to learn more: www.bigshopping.dk

Collaboration with local authorities in development of a new suburban area around a new-built supermarket property.

In 2014, NREP bought a new-built retail property with high technical standards already let on a long lease to international supermarket chain COOP, fitted out for their new successful COOP Extra concept. The property is located in Sundbyberg, a Stockholm suburb that in recent years has seen positive demographic developments of younger families moving in and a general increase in income. In addition, the broader catchment area has relatively easy access to the property due to its very good location between two main artery roads going from Stockholm to the northern suburbs.

The property and surrounding land included in the deal holds further development potential including the possibility of changing the current extra building rights from office to residential, which NREP initiated working on this with the local council. Also, as part of the development of the current property, the NREP team has chosen to add a Systembolaget store (the state operator with license to sell alcohol in Sweden), which will undoubtedly attract more customers.

The suburb is currently being built out and should in the coming years grow to about 27,000 residents in the primary catchment area around the property. Also the nearby town is being developed further adding more residential housing. Included in this urban development is that the council is building a new entrance road improving the access to the property and land owned by NREP.

Bringing new life to a local necessity-driven community centre in Aarhus suburb, while also getting additional building rights for further development.

Veri Centre was acquired by NREP end-2013 and has since undergone large refurbishments and developments. The centre’s fundamentals were clearly positive from NREP’s perspective with an excellent location in both micro and macro terms and a large and diversified catchment area spanning both student housing and upper-middle income families. But the NREP team still saw a potential to build out further and bring about some updates to the aging shopping centre.

NREP acquired Veri Centre through an off-market transaction with a social housing company, which the team knows well and who themselves are restricted from making any commercial upgrades or refurbishments to the centre due to regulation. Therefore, when the ownership was passed to NREP there was plenty of opportunity to enhance the property and make it add more value to the area in collaboration with the local council.

As for actual changes to the property, NREP has signed several new leases with tenants keeping in mind what the best mix of shops would be for the customers in the area. A café has been built in a small square in the middle of the centre inviting people to sit down and enjoy visiting the centre rather than just rushing in and out. This has become an ideal meeting point for the local customers, creating a feeling of community and it makes people spend more time in the centre and appreciate it more in their everyday lives. In addition, NREP has added and leased almost 2,000 sqm of retail space by optimising the layout and building out several old entrances for delivery of goods. Later, NREP was granted further building rights to add another floor on top of the centre creating an additional 1,800 sqm. In this space, NREP has built a new fitness centre, which should attract even more daily visitors creating more life in and around the centre.

NREP has further extension opportunities for the centre, but is still working on how it should ideally be used.

Development of a new retail park with significant expansion potential and a great location.

NREP purchased in 2016 a pre-let retail development project located in a densely populated suburban area some 10km west of Helsinki CBD. Over 100,000 people live within the core catchment area of the property. The new retail centre will comprise three buildings including both grocery and other retail concepts as well as a family activity centre. Laajalahti retail park will be one of the few true retail parks in Finland, where all the buildings and stores are located around one courtyard making shopping in this retail destination easy and convenient for the end customer.

NREP acquired the plot from the City of Espoo after the majority of the planned buildings had been pre-let. Despite its great location and planned development of new residential housing and a golf course in recent years, this plot was previously only used to store snow in the winter months. Now, Laajalahti Retail Park will serve the nearby residential areas with daily groceries and the wider areas of Espoo with activities and attractive retail brands.

The retail park area is fully developed and leased by NREP and will be constructed in two phases. First phase of 15,000sqm is estimated to be completed around end-2018. The second phase plot is reserved by NREP and the plot will be bought after key lease agreements have been signed. Current tenants are all very strong brands and offer a good diversity of products and services from daily groceries to home electronics.
In the second phase, NREP targets to bring in even more strong concepts, a restaurant and a gas station to further strengthen the location.

NREP, the leading pan-Nordic real estate investment manager, develops a new 15,000 sqm retail park in Laajalahti, Espoo, Finland. The property is almost fully leased with Lidl and Tokmanni in place as anchor tenants and is set to open towards end-2018.

The multi-stage project has proceeded into the construction phase under the lead of NREP. In addition to anchor tenants Lidl and Tokmanni, other tenants of the new retail park will include strong brands like Power, Jysk, Plantagen and the first Leos Lekland in the Helsinki Metropolitan Area.
The property holds further building rights than what will be developed for now, so NREP is planning to expand the retail park and its service offerings with a second phase later on.

‘’We are very pleased to finally start the construction of Laajalahti retail park. The tenants are well-known and very attractive retail operators, and we are confident that the retail park will be a great success. The investment is well in line with our strategy to develop pre-leased real estate properties to the Helsinki Metropolitan Area’’, says NREP Asset Manager, Joonas Lemström.

The retail park has an excellent location next to the Helsinki-Turku motorway in the busy crossroads of Sinimäentie and Turveradantie. There are more than 100,000 residents living in the core catchment area and no similar retail services are available here, so the new retail park will most certainly add value to the area as a whole and its residents.

’’The new Lidl Laajalahti will serve the growing neighbourhood of Northern Tapiola and Laajalahti. The retail park has good traffic connections and we are confident that it will attract a lot of customers’’, comments Kalle Noukkala, Regional Director at Lidl Suomi Ky.

’’We are very pleased to be able to serve customers of the area with our wide product assortment and affordable prices already by Christmas 2018’’, comments Harri Koponen, Director of Store Network and Concept at Tokmanni.

For additional information please contact:

Jani Nokkanen, Fund Manager and Partner, NREP, +358 9 674 410
Joonas Lemström, Investment Manager, NREP, +358 50 327 3493

Following the sale of the largest portfolio of necessity-driven retail centers in Sweden in June 2017, NREP has now exited two additional retail portfolios in Denmark

NREP and StepStone Real Estate (“SRE”) have partnered to recapitalize a portfolio of necessity-driven retail community centers in Denmark. This follows the recent sale of 16 stand-alone supermarkets in Denmark to JT Ross.

The necessity-driven retail community centers have a combined GLA of c. 73,800 sqm and are located in excellent suburban areas. The portfolio includes Trøjborg Centret and Veri Centret in Aarhus and Taastrup Torv, Vallensbæk Stationstorv, Frihedens Butikscenter, Lyngby Stationscenter and Holte Midtpunkt in the Greater Copenhagen area. The properties have further value creation potential and NREP will continue to manage the portfolio.

“Through additional investments and close collaboration with tenants, local municipalities and other stakeholders, we have managed to reinvigorate these centers, making them more attractive for both the local residents that they serve, tenants and future owners”, says Thomas Riise-Jakobsen, Director, NREP.

“We are pleased to partner with NREP for their continued management of the portfolio. NREP clearly has unrivalled local team capacity, expertise and track record for managing this type of local retail centers in the Nordics”, comments Josh Cleveland, Partner, StepStone Real Estate.

The stand-alone portfolio of 16 retail assets contains primarily supermarkets located in medium and larger cities across Denmark and has a combined GLA of c. 23,600 sqm. The portfolio has zero vacancy and some of the strongest supermarket groups in Denmark as key tenants.

NREP was advised by C&W and Bruun & Hjejle on both transactions. SRE was advised by Sadolin & Albæk, Plesner and Jones Day. JT Ross was advised by Lundgrens.

For additional information please contact:

Gustaf Lilliehöök, Investor Relations & Business Development, NREP, +45 2112 0441

Thomas Riise-Jakobsen, Transactions and Asset Management, NREP, +45 2225 1088

NREP, the pan-Nordic real estate investment manager, has sold the community center Näsbypark Centrum in Täby, Stockholm

Today Näsbypark Centrum has been acquired by the European Property Investors Special Opportunities 4 (EPISO 4), an opportunity style fund advised by pan-European real estate investment manager Tristan Capital Partners. The asset has been part of NREP’s necessity driven retail portfolio and is an established community center consisting of shopping areas, restaurants and community services such as a health care center, a care home and a school. The asset is located in Täby municipality, 15km north of central Stockholm.

The transaction received a lot of attention in the market highlighting the quality of the asset and the attractiveness to invest in the growing Stockholm region. The property value is SEK 314 million and the total lettable area amounts to approximately 11,600 sqm.

“Näsbypark Centrum has a strong position as the community center with its attractive mix of retail, educational and health care services. During NREP’s holding period we have worked proactively to optimize the tenant mix and to prepare for future building rights for residential”, says Tobias Alsborger, Partner at NREP.

”We are very proud of having secured a strong exit for our investors despite the somewhat short holding period. We have worked actively with the asset to materialize its full potential and we are now getting rewarded for our diligence and professional asset management”, says Rickard Dahlberg, CIO and Partner at NREP.

NREP was advised by C&W and Real Advokatbyrå.

For additional information please contact:

Gustaf Lilliehöök, Investor Relations & Business Development, NREP, +45 2112 0441

Tobias Alsborger, Partner, NREP, +46 704 800 187

NREP, the pan-Nordic real estate investment manager, has sold a large Swedish retail portfolio consisting of 11 assets and a total area of 63,500 sqm to Storebrand/SPP

June 29 2017, NREP signed a purchase agreement to sell Swedish retail portfolio to Storebrand/SPP. The sale is the largest retail transaction during 2017 with a total value amounting to approx. SEK 1.6 billion and received interest from both domestic and international blue chip investors. The high interest for the portfolio highlights the strong quality of the underlying assets and the necessity driven retail sector.

The retail portfolio consists of 11 necessity driven retail properties with a total 63,500 sqm lettable area in attractive locations in the greater regions of Gothenburg, Stockholm and along the E4 corridor from Stockholm to Linköping. The portfolio has been built up and optimized by NREP Retail over the last five years.

”The team has worked incredibly hard to execute on the necessity driven retail strategy during the holding period. NREP’s model with strong in-house asset management capabilities has created a lot of value to the investors. The active asset management has secured the long-term attractiveness of this portfolio by optimizing the tenant mix, adjusting the premises to the modern retailer’s demand as well as creating building rights both for residential, retail and community services”, says Tobias Alsborger, Partner at NREP.

“We are very pleased to have been given the opportunity to complete this acquisition, a deal that fits well with our investment strategy. The property portfolio is very well-managed and has a development potential in addition to stable cash flow”, says Marita Loft, CEO of Storebrand Fastigheter AB.

“NREP is proud to secure yet another exit with very attractive risk adjusted returns to our investors. This exit further underpins NREP’s strong position as one of the leading managers in the Nordic region. We see this as further evidence that our business model has the ability to deliver great value over the long term to our investors”, says Gustaf Lilliehöök, Partner at NREP.

NREP was advised by C&W and Real Advokatbyrå.

For additional information please contact:

Gustaf Lilliehöök, Investor Relations & Business Development, NREP, +45 2112 0441

Tobias Alsborger, Partner, NREP, +46 704 800 187

An additional 4,000 sqm retail space to the Dixi Shopping Centre is now completed and opening for business in April 2017. The Dixi Shopping Centre is located at the heart of Tikkurila, a major district in the Helsinki metropolitan area (HMA)

1st phase of the Dixi Shopping Centre was opened for business already in January 2015 offering a variety of supermarkets, stores and restaurants to the daily commuters. Now with the opening of the 2nd phase the centre is growing to a total of 9,000 sqm and strengthening its offerings with another grocery store, a fitness centre and restaurants. New tenants include among others, K-Market, Burger King and 24/7 Fitness.

Tikkurila is one of the busiest public transport junctions in Finland serving airport traffic and long distance trains in addition to local city transportation. Over the past two years Dixi has become an attractive shopping centre and meeting place for passengers, commuters, as well as for local residents and people working or studying in the area. Dixi was Finland’s 9th busiest shopping centre in 2016 recording 8.6 million visitors throughout the year.

“Dixi is a modern shopping centre in direct connection with a very busy railway and bus station serving as a convenient location for running your daily errands. The 1st phase has been a great success with high levels of sales and visitor counts. The 2nd phase substantially strengthens our commercial concept enabling us to now offer customers even more versatile services,” says Joonas Lemström, Asset Manager at NREP.

NREP Nordic Strategies Fund I, the Pan-Nordic fund advised by real estate investment manager NREP, entered in September 2014 a forward purchase agreement with YIT Construction Ltd. to acquire the development project. The centre is now after completion of the 2nd phase fully owned by the NREP Nordic Strategies Fund I.

For additional information please contact:

Joonas Lemström, Asset Manager, NREP, +358 50 327 3493

Jani Nokkanen, Partner, NREP, +358 45 122 8002

NREP Nordic Strategies Fund I, a fund managed by Nordic Real Estate Partners (NREP), has acquired a retail development of 2,600 sqm in the Niipperi area of Espoo, Finland. Espoo is one of the fastest growing municipalities in Finland and is located in the Helsinki Metropolitan Area. The original developer of the project is Sjaelso Finland Oy. Construction works will finish is spring 2016. The property is fully let to Kesko, a leading grocery retail group in Finland, with a long-term lease agreement.

NREP Nordic Strategies Fund I invests in retail, logistics and residential properties in the Nordic region. The fund is backed by leading Nordic and international institutional investors and has invested and committed approximately 800 million euros since inception in May 2014.

For additional information please contact:

Jani Nokkanen, partner, Nordic Real Estate Partners                 +358 45 122 8002

NREP Nordic Strategies Fund I, a fund managed by Nordic Real Estate Partners (NREP), has today acquired a retail portfolio from Foreningen european retail, a real estate fund based in Denmark.

The portfolio contains three assets in Finland, located in Hyvinkää, Salo and Tampere. The asset in Hyvinkää is part of the Willa shopping center and is occupied by the department store chain Anttila. Willa is the dominant retail location in Hyvinkää. The asset in Salo is the centrally located Citymarket hypermarket. The asset in Tampere comprises of two adjacent properties in the center of Lielahti retail park, occupied by Tokmanni and Stadium. Lielahti is one of the largest retail parks in Finland. NREP plans to develop the properties further in the coming years. Total property value is approximately 24 million euros.

NREP Nordic Strategies Fund I invests predominantly in retail, logistics and residential properties in the Nordic region. The fund is backed by leading Nordic and international institutional investors and has invested and committed over 700 million euros since inception in May 2014.

For additional information please contact:

Mikko Räsänen, Partner, Nordic Real Estate Partners                +358 50 353 8438

NREP Nordic Strategies Fund together with TAM Group acquires Brunna Park, a retail development project in Upplands-Bro, Stockholm. The seller is HSB Bostad.

NREP Nordic Strategies Fund, a fund managed by Nordic Real Estate Partners (NREP), has together with TAM Group acquired the Brunna Park retail site in Upplands-Bro from HSB Bostad. The site is located with excellent visibility from the E18 highway, making it easily accessible for commuters to and from Stockholm as well as for local residents. Following a recently adopted zoning plan, the area will undergo a major transformation including thedevelopment of the retail park on the acquired site as well as substantial residential developments on neighboring properties. Coop Forum and Biltema will be the first tenants to open their stores in Brunna Park and leasing is ongoing for additional development phases.

“We are pleased to enter this project together with TAM, to create a shopping destination foreveryday goods which Upplands-Bro is currently lacking”, commented partner Tobias Alsborger from NREP’s Stockholm office.

For more information:

NREP, Tobias Alsborger +46 704 800187

TAM Group, Andreas Philipson +46 70 209 77  60

Nordic Real Estate Partners (NREP), the pan-Nordic real estate investment manager, has sold a 30.000 sqm retail property in Finland to the Finnish real estate fund, EQ Liikekiinteistöt

NREP Nordic Retail 2, a fund managed by NREP, has today sold a 30.000 sqm retail asset located in Hämeenlinna, Finland to EQ Liikekiinteistöt, a Finnish real estate fund. The sale is the first exit for the NREP Nordic Retail 2 fund and amounts to EUR 48 million, delivering returns significantly exceeding the target return of the NREP Nordic Retail 2 fund. After the exit, NREP Nordic Retail 2 holds a portfolio worth approximately EUR 300 million of necessity driven retail properties in Sweden and Denmark.

For additional information please contact:

Mikko Räsänen, Partner, Nordic Real Estate Partners +358 50 353 8438

Gustaf Lilliehöök, Investor Relations, Nordic Real Estate Partners +45 2112 0441