Saudi firm raises $155m for European real estate fund

Saudi Arabia–based Al Rajhi Capital has announced the closing of its Al Rajhi European Real Estate Fund, raising $155 million in equity.

The five-year closed-end fund will invest in income-generating logistics properties, such as warehouses occupied by solid tenants with long-term leases. The main geographic focus of the fund will be Western Europe.

Al Rajhi Capital has managed more than $1 billion in transactions across the logistics and community retail space and recently exited a $360 million fund focused on investing in logistics properties in Saudi Arabia and the United Arab Emirates.

Established in 2008, Al Rajhi Capital is the top ranking broker and one of the largest asset managers in Saudi Arabia.