AEW fund holds €100m first close
AEW has launched and held a first close for RESIDYS Fund, the firm’s first fund dedicated exclusively to French residential real estate. AEW has raised more than €100 million ($106 million) from institutional investors in a first close for the fund.
The fund is targeting equity commitments of up to €400 million ($423 million), which will provide RESIDYS Fund with a total investment capacity of approximately €650 million ($689 million), assuming a maximum loan-to-value of 40 percent.
AEW has exchanged contracts on the fund’s first acquisition, and a number of further investments are in the pipeline.