BMO Real Estate Partners (BMO REP), the pan-European property investment and asset management specialist arm of BMO Global Asset Management, has launched a new residential fund in Europe.
The BMO Europe Residential FCP-RAIF (BMO Europe Residential Fund), which is classified an Article 8 Fund under the EU Sustainable Finance Disclosure Regulation (SFDR), will invest in mid-market and affordable residential real estate as well as senior living in metropolitan regions and major cities in Germany, France, the Netherlands, Austria, Italy and Spain.
The fund will have a target investment volume of €800 million ($878 million).
In conjunction with the launch, the BMO Europe Residential Fund has made its first acquisition — a six-story, 5,600-square-meter (60,277-square-foot) property in The Hague. The asset was originally built in 1983 as an office and commercial building, and was converted into a residential building during the past two years.
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