Quiet conviction and disciplined execution have long defined the best Nordic real estate managers, and DNB Real Estate Investment Management exemplifies both in its winning Medium Real Estate Investor of the Year submission. Operating across the largest cities of Norway and Sweden, the fully integrated manager has built a concentrated but carefully constructed portfolio of high-quality assets in dominant, difficult-to-access locations that consistently delivers above-benchmark returns.

The performance trajectory is encouraging. Overall returns improved from 6.2% in 2024 to 7.1% in 2025, while the DNB Property Fund Core Plus delivered an outstanding 9.8%, testament to the patient and disciplined portfolio construction undertaken over recent years. Despite a meaningful allocation to the office sector, DNB has demonstrated that asset quality and strong ESG credentials are powerful performance drivers in their own right. A clear transition plan toward net zero by 2050 further underscores the seriousness of purpose that runs throughout this submission. The judges had little hesitation.