AEW’s open-ended pan-European core fund has raised an additional EUR110 million from new and existing investors.
The Eurocore fund has now reached EUR520 million since its EUR410 million first close in January last year.
As previously reported, the Eurocore fund attracted Dutch investor Pensioenfonds Metaal en Techniek, a Swiss public pension, and a number of insurers, pension funds, family offices and corporates from France, Germany and Japan.
The manager said the fund has so far invested EUR427 million across a mix of 11 medical office, logistics and residential assets in six countries.
Christina Ofschonka, senior fund manager of Eurocore at AEW, said: “In the time since we launched Eurocore we have efficiently deployed the majority of the initial equity into a high-quality portfolio of carefully selected assets, which offer strong income fundamentals and ESG credentials that meet our long-term KPIs, delivering outperformance against the fund’s industry benchmark.
“The new equity we have raised, underpinned by ongoing investor demand for European core real estate, enables us to continue this momentum and take advantage of further opportunities identified through our pan-European network which has successfully sourced transactions off-market in the past. We continue to monitor an attractive pipeline of investments as we focus on growing a future-proof and diversified portfolio.”
Source: realassets.ipe.com on the 9th of February
(https://realassets.ipe.com/news/new-equity-lifts-aews-open-ended-european-core-fund-to-520m/10057947.article)