PATRIZIA has launched the PATRIZIA Living Cities Residential Fund (Living Cities), an open-ended fund with a core strategy which currently has EUR650 million of seed assets and is expected to grow to over EUR1 billion in assets next year.
Alpha Real Capital (Alpha), a specialist manager of long income real assets, has launched the European Long Income Fund (ELIF), which will target Euro denominated, asset backed, secure inflation-linked income streams by investing in commercial ground rents, amortising income strips and long lease property (eg sale and leasebacks).
The Fund’s primary focus on ground rents and income strips is intended to place ELIF at the lower end of the risk spectrum, offering a key differentiator to other long income property funds.
M7 Real Estate has fully invested its first dedicated Polish investment fund.
The manager said its M7 POLAF fund’s portfolio now has a total value in excess of €120m following €11m of new transactions
The fund comprises nine office, light industrial and logistics assets totalling 93,536sqm across Poland.
Long Harbour, a real estate and asset-backed investment manager, has launched its European Ground Lease Fund, a new vehicle that will invest in ground leases on residential and commercial real estate assets across Europe.
The Long Harbour Euro Secured Income 1 Fund (LHESIF 1) will be managed by Richard Silva.
German investment giant Union Investment and Hamburgbased Redos have launched an open-ended special alternative investment fund (AIF) focusing on German retail parks and specialist shopping centres.
Redos Einzelhandel Deutschland III will concentrate on specialist retailer-focused shopping centres with stable value and potential for economic development, according to the two firms, with a target volume of at least €1 bn.
BlackRock Real Assets has achieved a US$1 billion first close for its Global Renewable Power III fund (“GRP III,”) with commitments from over 35 institutional investors in North America, Europe and Asia. The record first close reflects strong investor demand for renewable power assets that can generate attractive risk adjusted returns with low correlation to the economic cycle, and that align with their long-term sustainability goals.
CBRE Global Investment Partners (CBRE GIP) and Palmer Capital Partners have launched the latest fund in their programmatic venture series targeting value add and opportunistic real estate transactions in the UK.
Building on the success of the previous four funds in the series which have invested a total of GBP600million, the Fiera Real Estate Opportunity Fund V (FREOF V) will have a maximum six-year duration with a two-year investment window and will target a 12-15 per cent IRR to its institutional investor clients of CBRE GIP.
Principal Real Estate Europe (Principal), the European real estate investment arm of Principal Global Investors, has launched its first dedicated long income focused European real estate fund (the Fund).
With a target investment volume in excess of EUR800 million over the first five years of its life, the Fund’s investment objective is to provide a total return that will track Eurozone CPI plus appropriate real estate risk premia through investment in long leased Eurozone real estate assets.
BMO REP acquires EUR65m of prime high street assets in Milan and Copenhagen for pan-European retail fund
BMO Real Estate Partners (BMO REP), a pan-European property investment and asset management specialist and art of Canada’s BMO Financial Group’s EUR228 billion Global Asset Management business, has completed the acquisition of three prime retail properties in Milan and Copenhagen for a combined EUR65 million on behalf of Best Value Europe II (BVE II), its pan-European retail property investment fund.
Aberdeen Standard Investments (ASI) has raised over €100m for a newly-launched European long-income real estate fund.
The open-ended European Long Income Real Estate Fund, which had its first close at the end of last month, received equity commitment from six institutional investors located in six different countries.
ASI said the fund plans to build a diversified portfolio of direct real estate assets located in key Western European markets with a focus on Germany, France, Benelux and the Nordics — excluding the UK.