AEW raises €520m for pan-European core fund

AEW has added new capital to its open-ended pan-European core fund, EUROCORE, from new and existing investors, bringing the fund’s equity to €520 million ($593 million).

EUROCORE seeks to capitalize on the changing demand for real estate being brought about by ongoing urbanization, demographic changes and the rise of new technologies. The fund places a strong emphasis on ESG.

So far, €427 million ($487 million) of capital has been allocated across a mix of 11 high-quality medical office, logistics and residential assets in six countries — the majority of them having been secured off-market. The recent acquisitions have led to a larger footprint in France and The Netherlands, among others, and have leveraged on the strong fundamentals of the living and logistics sector.

“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 in