NREP’s Income+ Fund is an open-ended fund, which launched in September 2020 and is expected to reach €1 billion of commitments during the first quarter of 2021.

The facility is designed to enable NREP to respond quickly and efficiently to opportunities to implement its strategy of investing long-term in middle-income residential, modern logistics facilities and social infrastructure.

The Reed Smith team advising on the deal was led by partner Colin Baker, with support from associates Yuri Kim and Odes-Clara Leguet.

Partner Colin Baker commented “We are delighted to have supported NREP in the structuring and execution of this financing, drawing on our extensive expertise across all aspects of funds finance to put in place a subscription line facility customised to an open-ended fund”.

Elvinger Hoss Prussen provided Luxembourg law advice to NREP.

Travers Smith advised RBSI, with Wildgen providing Luxembourg law advice to RBSI.