CBRE Global Investors has secured an additional commitment of €200 million ($236 million) from South Korea's Public Officials Benefit Association (POBA) to build a diversified European real estate portfolio.
After leverage, this equity commitment provides additional investment capacity in excess of €400 million ($472 million).
POBA first awarded CBRE Global Investors and IGIS Asset Management a mandate to invest in European real estate in 2016, and this latest round of equity represents the third tranche of capital committed to the separate account. Initially established with a focus on offices, the mandate has been expanded to include residential, logistics and alternative sectors, such as healthcare (life sciences) and data centers, as well as listed real estate securities.
“This latest equity commitment from POBA is not only a strong vote of confidence for the enduring appeal of European real estate, but also demonstrates the strength of our investor re
