DNB Scandinavian Property Fund

Established to give investors the opportunity to invest in a well-diversified and non-mortgaged commercial property portfolio in the largest cities in Norway and Sweden.

Image of a modern, black building with blue sky around it

Direct exposure to fully developed commercial property in Norway and Sweden.
High proportion of BREEAM certified buildings
Inflation protection through the KPI adjustment of rental income

Key figures Q4 2025

Value (NAV):

10 320 million

Annual rental income:

566 million

Economic vacancy:

4.8 %

Rate of return year to date:

6.8 %

Annual rate of return last 5 years:

2.4 %

Annual rate of return last 10 years:

4.3 %

The mutual fund is non-mortgaged and has a moderate risk profile (CORE) with a focus on cash flow assets. The development can amount to a maximum of 5 per cent.

The mutual fund is actively managed and invests in the office, commerce, hotels and social building segments
Long-term return target of 5-7 per cent
Targets for direct returns of 3-5 per cent
Sustainability is integrated into the management - SFDR Article 8 fund
GRESB 5 stars (Global Real Estate Sustainability Benchmark)
DNB Livsforsikring co-invests in the mutual fund and will own a minimum of 10 per cent in the mutual fund company
Minimum subscription for Norwegian feeders is NOK 5 million
For international investors, investment is offered with moderate lending

Reports

Here you’ll find investor reports, sustainability reports and key information

See the reports here

Webcasts

Web submission for Q3
Web submission for Q2
Web submission for Q1

DNB Næringseiendom på Linkedin

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More about the fund

Sustainability

DNB Scandinavian Property Fund is classified as an Article 8 fund under SFDR with a focus on reducing greenhouse gas emissions through improvements to the property portfolio in line with new technology and in compliance with all applicable requirements, on behalf of investors, tenants and society.

The path to a zero-emission society requires courage, commitment, expertise and long-term, systematic work over time. Consideration of environmental, social and corporate governance factors (ESG factors) is an integral part of both the investment process and the ongoing management carried out by DNB Næringseiendom (DNB Real Estate Investment Management, DNB REIM).

The sustainability work is anchored in the fund's sustainability plan with main focus on

Reduction in greenhouse gas emissions
Reduction in energy consumption
Reduction in water consumption
Increased level of waste sorting
Third-party building certification

The fund has participated in the Global Real Estate Sustainability Benchmark (GRESB) since 2013 with good results and achieves five green stars

"Green Star" classification in GRESB

Since 2013, the fund has participated in the Global Real Estate Sustainability Benchmark (GRESB), which is an index that measures and compares participants against a broad range of ESG criteria.

The fund has achieved strong results and a "Green Star" classification every year since 2013. For 2025, we achieved a score of 94.This places DNB Scandinavian Property Fund as number 7 out of 77 European funds. There are 2 200 funds included in the benchmark.

GRESB Benchmark Report (PDF, file.anchor.en.label)Open the file in a new tab

Purchase of units, redemption and liquidation

Units in DNB Scandinavian Property Fund can be freely traded, but changes in ownership must be reported to the manager, DNB Næringseiendom (DNB Real Estate Investment Management, DNB REIM) and approved by the board of the relevant feeder company.

There is a limited annual redemption right for investors. It is a requirement that the investor has held the units for a minimum of 18 months and that the amount requested for redemption exceeds NOK 5 million. For further information on redemption, please refer to the Subscription Invitation.

A winding up of DNB Scandinavian Property Fund is decided by the fund's investors at the company meeting and requires approval by two-thirds of the share capital.

For further information, please contact the manager

Portfolio

Risk aspects

The risk profile of DNB Scandinavian Property Fund is moderate and is classified internationally by INREV as a 'core' fund. Investment in property companies carries the risk that the investor may incur losses.

An indirect property investment in DNB Scandinavian Property Fund must be based on a long-term perspective and is therefore not suitable for investors with a short-term time horizon.

The risk of loss or a lower rate of return than expected will depend on a number of factors. Investors are therefore requested to review the risk factors described in the Subscription Invitation and to assess the investment based on their own risk profile and financial situation.

Assessment of the fund's total value-adjusted equity (VEK)

DNB Scandinavian Property Fund prepares a quarterly assessment of the fund's total value-adjusted equity (VAE). The value of the fund's properties is determined as the average of two independent valuations, prepared by recognised parties outside the DNB Group.

The fund's structure is adapted for investors who cannot freely invest in debt-financed investment properties and is designed to comply with the regulations for life insurance companies' and pension funds' asset management.

Ownership interests in the fund can therefore be classified as real property. For further information about the property portfolio, please see the latest quarterly report.

Contact us

Contact the team behind the fund for a discussion about why you should choose DNB Scandinavian Property Fund

DNB Scandinavian Property Fund

Redegjørelse for åpenhetsloven

Åpenhetsloven stiller krav til norske selskaper om å redegjøre for hvordan det arbeides for å sikre grunnleggende menneskerettigheter og anstendige arbeidsforhold i verdikjeden. På nettsiden om menneskerettigheter beskriver vi hvordan DNB sikrer at kravene i åpenhetsloven blir fulgt. Dersom du ønsker mer informasjon kan du kontakte DNB Næringseiendom på servicesenter@dnb.no

Se redegjørelse for åpenhetsloven (PDF, file.anchor.en.label)Open the file in a new tab

Disclaimer

The information above is not precise or complete. The above does not contain a recommendation to invest. For a full review of DNB SPF, please see the quarterly reports or the subscription invitation which will be available at certain periods.

Useful links

Sustainability at DNB Real Estate Investment Management (DNB REIM)

Sustainability at DNB

Personvern

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