GNRE III seeking to raise €450m in total within a year. : Real estate fund manager Genesta has raised €334m at the first close of its third Nordic value-add property vehicle. Genesta Nordic Real Estate Fund (GNRE) III, which is seeking to raise €450m in total within a year, received the commitments from eight investors from its predecessor fund, the manager said. GNRE III targets a return of 12-14% by investing predominantly in offices in the capital city regions of the Nordics but also logistics and retail in the capital city regions and larger regional cities.