Hines European Property Partners (HEPP) aims to attract EUR1bn in investor equity from global investors in the first 12 months following its launch
Hines, the global real estate firm, today announced that Hines European Property Partners (“HEPP” or the “fund”), its new diversified, open-ended core-plus fund focused on key European markets, has secured c. EUR800 million of equity commitments from investors at its first closing, less than three months after the fund’s launch.
Embarking on an accelerated programme of equity raising, the fund has attracted a wide range of both new and existing investors, from the U.S and Europe. The fund aims to attract EUR1 billion in investor equity in the first 12 months from investors around the world. Launched in early 2022, HEPP is led by Jorge Duarte, who joined Hines from Barings to take up the role of fund manager.
The fund is seeking to acquire and develop sustainable assets across a range of sectors including logistics, office, living – residential, student, and senior housing. HEPP will leverage Hines’ expertise and presence in 17 offices across Europe to identify investment opportunities in Europe’s most dynamic urban centres and gateway cities. The fund has already secured exclusivity on two separate deals in the living and office sectors.
The fund combines Hines’ proprietary research framework with its execution platform intending to create a portfolio of high-quality income producing assets. The strategy will seek to maximise value at the asset-level through active management while undertaking select developments to hold.
HEPP will complement Hines’ existing European funds, the Hines European Core Fund (HECF), the firm’s open-ended core flagship vehicle, and the Hines European Value Fund (HEVF) series, its close-ended value add counterpart.
Both HECF and Hines European Value Fund 2 (HEVF 2), the latter now closed to new investors, have market leading ESG credentials as recognised by GRESB. HEPP intends to pursue a GRESB rating to underscore its ESG credentials.
Source: hines.com on the 9th of May 2022