AEW Europe City Retail Fund exceeds fundraising target
AEW Europe has raised more than €415 million ($442 million) of equity from several international institutional investors for the Europe City Retail Fund, exceeding the fund’s initial equity fundraising target of €400 million ($426 million).
Closing the fund above the target “is a clear sign of the ongoing demand for good-quality, income-producing retail assets throughout Europe and a strong endorsement of our investment strategy to date,” said Marc Langenbach, head of funds for AEW in Germany, in a statement.
The additional equity raised provides the fund with a total investment capacity, including leverage, in excess of €800 million ($851 million). AEW has plans to further increase the level of equity commitments up to €800 million ($851 million) over the next few years.
The fund’s strategy is to build a portfolio of high-quality, income-producing retail assets that are well located within the main European city centers. The fund has a maximum l