BNP Paribas launches new European hotel fund
BNP Paribas REIM Germany has launched a new European hotel real estate vehicle, Euro City Hotel Fund, according to IREI’s FundTracker database.
Euro City Hotel Fund follows a core, core-plus investment strategy and will invest in hotel properties throughout Europe. The fund seeks to raise €350 million ($375 million) in total equity commitments.
The firm manages and administrates real estate funds and real estate debt funds for institutional investors. It currently manages around €5 billion ($5.36 billion), of which approximately €4.8 billion ($5.1 billion) is allocated to 14 special funds, two Luxembourg vehicles and four separate accounts.
Among the additional funds managed by BNP Paribas is Real Value Fund, a value-added real estate fund that invests in office and retail properties throughout Europe. The fund previously acquired an office property in the Prenzlauer