Storebrand Nordic Real Estate Fund


Investment Strategy: Core Plus

Sustainable property investments

Storebrand Real Estate is one of the leading sustainable managers in Europe and focuses on environmentally efficient operations and environmental certifications in property management.

Storebrand Real Estate is a part of Storebrand Asset Management, the largest private asset manager in Norway with about EUR 80 bn under management. Storebrand Asset Management is a valued provider of sustainable investment solutions and funds, also beyond the Nordics.

Fund facts

Experienced Team

  • Broad real estate expertise in Norway and Sweden
  • 41 professionals in Oslo and Stockholm manage EUR 4,5 bn in direct real estate
  • Strong risk-adjusted return in 2 on-going real estate funds

Co-investment with:

  • Storebrand Livsforsikring AS
  • SPP Pension & Försäkring AB (publ)

Lux Domiciled Vehicle

  • Target equity: EUR 250 million (hard cap EUR 300 million)
  • Storebrand/SPP commitment: EUR 50 million
  • LTV: 40 % (maximum 50 %)
  • Target size GAV: EUR 420 million

Return to Investors

  • Target Gross IRR: 7–8 %
  • Target Net IRR: 6–7 %
  • Target dividend yield: 2–3 %


Fund Terms

  • Closed for 10 years with two 1-year extension options
  • Investment period: 36 months from final closing
  • Concentration limit: Maximum 15% of total rental value  in one single tenant when fully invested

Fee Structure

Commitment fee
  • 30 bps on undrawn committed capital

Transaction fee
  • 50 bps on property acquisition or disposal value

Management fee (on GAV)
  • Committed capital EUR 2.000.000-24.999.999 75 bps
  • Committed capital from EUR 25.000.000 65 bps
  • Committed capital from EUR 50.000.000 95 bps (no performance fee)

Performance fee
  • 20 % over 6 % net IRR (50/50 catch up)

Currency

  • EUR, SEK, NOK
  • Underlying holdings in NOK, SEK, DKK, EUR

Contact Information

Truls Nergaard

Head of Storebrand Real Estate

Storebrand Asset Management AS
Tel: +47 916 02 270
Email: truls.nergaard@storebrand.no

Marita Loft

CEO Storebrand Fastigheter AB (Sweden)

Tel: +46 70 960 54 64
Email: marita.loft@storebrand.no

Map_Nordics_minus_Iceland

Solid Track Record

Unlevered
3 years TR
5 years TR
7 years TR
Storebrand Eiendomsfond Norge KS Annual Total Return 8.1 % 9.2 % 8.5 %
SPP Fastigheter AB Sweden Annual Total Return 7.4 % 7.9 % 7.0 %



Investment strategy Nordic Real Estate Core Plus

Geography
Weight
Sweeden - Regions: Stockholm, Gothenburg, Malmo 30 % - 50 %
Norway - Oslo Region 30 % - 50 %
Finland - Helsinki Region 10 % - 40 %
Denmark - Copenhagen Region 10 % - 40 %

Segment
Weight
Office 40 % - 70 %
Retail 0 % - 20 %
Logisitics 0 % - 30 %
Hotel 0 % - 30 %
Other 0 % - 20 %

Disclaimer

This is neither an offer to sell nor a solicitation of any offer to buy any financial instruments in any fund or vehicles managed by Storebrand. Any offering is made only pursuant to the relevant Prospectus, together with the current financial statements of the relevant fund or vehicle, if available, and the relevant subscription application, all of which must be read in their entirety. No offer to purchase shares can be made or accepted prior to receipt by the offeree of these documents and the completion of all appropriate documentation. The financial instruments have not and will not be registered for sale, and there will be no public offering of the shares. No offer to sell (or solicitation of an offer to buy) will be made in any jurisdiction in which such offer or solicitation would be unlawful. This presentation is not an advertisement and is not intended for public use or distribution.