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Cornerstone Floats Nordic Property Fund
Cornerstone Real Estate Advisers has unveiled its first European property fund.
Cornerstone Real Estate Advisers has unveiled its first European property fund, IPE Real Estate reports. The Nordic Social Infrastructure Property Fund will invest in public real estate assets let on long-term, inflation-linked leases to government or quasi-government tenants.
The portfolio is geographical focused on Sweden, although the fund may invest about 20% in Finland, Denmark and Norway. Cornerstone Europe is seeking to achieve a first close on the fund before the end of the first quarter of 2011 and is targeting €250 million in equity.
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