BlackRock launches €280m euro zone core property fund

BlackRock Real Assets has launched a new vehicle, Eurozone Core Property Fund.

This fund has already raised €280 million ($326 million) of commitments in a first closing.

The open-ended fund targets income-generating investments in the euro area and will invest primarily in office, retail and logistics properties, with selective exposure to alternative assets such as residential, student residences and hotels. The vehicle will implement a multi-strategy approach targeting reversible assets with a low vacancy rate and located in emerging markets.

Investments include office buildings in Paris, Munich and Hamburg and commercial buildings in Copenhagen.