Pontos acquires majority interest in NREP C1

Avance advises Pontos, a private equity and real estate investment company, in its acquisition from Cheyne Special Situations Investments (no. 2) S.à r.l. of a majority interest in the “NREP C1” real estate fund managed by Nordic Real Estate Partners. The fund, launched in late 2005 and fully invested by early 2008, had a gross asset value target of EUR 400 million based on EUR 100 million of equity. Almost 70% of the fund’s assets have been divested and the remaining portfolio consists today of 33 logistics, retail and residential properties in Finland and Sweden.