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DNB Scandinavian Property Fund

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DNB Scandinavian Property Fund (DNB SPF) was established by DNB to give institutional investors the opportunity to invest in a well-diversified and unlevered property portfolio together with DNB Life. The fund is managed by DNB REIM which holds an AIFM license.

 
 
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DNB SPF was launched in 2007. The fund's objective is to build a broad and diversified property portfolio of NOK 12.5 billion. DNB Life Insurance co-invests in the fund and will own minimum 10 percent stake in the fund company. According to INREV's classification, the fund is classified as a Core Real Estate Fund, ie a fund with moderate risk and limited scope of project development.

The fund is marketed both in Norway and internationally and the fund is therefore covered by the EU's new regulations according to minimum requirements regarding to information and reporting related to sustainability (ESG factors). The regulations contain a classification of funds with reference to Article 6, 8, or 9. Based on DNB REIM's current strategies and guidelines as well as the established practice in the management of DNB Scandinavian Property Fund with regard to the environment, the fund is classified in accordance with Article 8 as a so-called light green fund. The management of the fund includes a number of ESG factors, including the UN's sustainability goals 5 and 8. For climate and environmental factors, there is a special focus is on the UN's sustainability goals 7, 11 and 12.

Since 2013, the fund has participated in the Global Real Estate Sustainability Benchmark (GRESB), which is an index that measures and compares participants in relation to a wide range of ESG criteria. The fund has achieved good results and a classification as a so-called "Green star" every year. For 2021, the fund achieved an overall score of 90 out of 100.

A web portal has been established for investors in DNB Scandinavian Property Fund

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Asset value

The Fund's net asset value 30.06.22: 
NOK 11 317 million. The fund has both Norwegian and international investors.

Portfolio Composition

- Offices: 35 to 80 %
- Shopping centres/retail: Up to 40 %
- Other: Up to 25 %

Return Targets

DNB SPF aims to achieve an annual return of 5-7 per cent over time which approximately 3-5 per cent is to be paid annually to investors.

Return

- Return in 2022: 4.6 % 
- Return last 3 years: 5.9 % 
- Return last 5 years: 6.5 %
 
Suitable for:
  • Institutional investors who are looking for exposure towards multiple property segments
  • Investors with a long-term perspectiv
  • We offer both levered and un-levered units
Not suitable for:
  • Short-term investments

 

 
Presentations and documents

2021 SPF Energy and Environment audit

2021 Sustainability report DNB Scandinavian Property Fund

Press release DNB SPF sells Quality Hotel Expo

GRESB Scorecard 2021

Environmental Program 2021-2023

DNB SPF Environmental Report 2020

GRESB Scorecard 2020

GRESB Scorecard 2019

Renewable Energy Guarantee 2020

Renewable Energy Guarantee 2019

DNB Scandinavian Property Fund purchases Krikelkroken 1

Investor reports

Q2 2022

Q1 2022

Q4 2021

Q3 2021

Q2 2021

Q1 2021

Q4 2020

Q3 2020

Q2 2020

Share prices

See the most recent share price for the various companies holding units in DNB Scandinavian Property Fund (ex dividend).

» Share prices
 

More information about the fund

INVESTMENT STRATEGY

The Fund will invest in office, retail/shopping centers and hotel/other in Norway and Sweden. When fully invested the portfolio shall be in line with the following structure: 
 
• Office 35-80 per cent
• Retail up 40 per cent
• Hotel/other up to 25 per cent
 
Geographically minimum 60 per cent will be invested in Norway and a maximum 40 per cent in Sweden.

FUND STRUCTURE AND TERMINATION

The Master Fund is a Norwegian limited partnership. International investors are invited to invest through a Luxembourg FCP. The Fund is open-ended. A limited redemption right has been established for investors in the fund.  

RISK

The risk profile of the Fund is moderate, and classified as a "core" fund according to INREV. Investing in real estate involves risks that the investor may incur losses. The risk of loss or lower return than expected will depend on a number of conditions. Investors are therefore asked to review the risk factors described in the subscription documents and consider the investment from their own risk profile and financial situation.

SUSTAINABILITY

DNB SPF and DNB REIM have strengthened the focus on ESG factors in general and climate and envoroment impacts in particular. The fund has a strong 'Green star' categorization of GRESB. As manager DNB REIM is also  ISO 140011 certified. It is a target to achieve at least a “very good” certification according to BREEAM of the fund’s properties.

REPORTING

DNB REIM prepare and publish investor reports on a quarterly basis. The reports can be read on the company's website.

VALUATION

Quarterly reports are prepared  review of the Fund's total net asset value (NAV). The values of the fund’s properties are determined as the average of two independent valuations, prepared by renowned valuers outside the DNB Group.

DISCLAIMER

 

The information on the website of DNB Scandinavian Property Fund (DNB SPF) is not precise or complete. The website does not contain any investment recommendations. For further information about DNB SPF, please refer to quarterly reports or to the subscription invitation that will be available in periods. If you want more information about the fund, including, for example, characteristics or risk of a possible investment, you should contact your advisor in DNB or contact person in DNB REIM AS. DNB SPF or DNB REIM AS assumes no responsibility for either direct or indirect losses due to the understanding of and / or the use of this website.