Greystar Europe Investment Management, a subsidiary of Greystar Real Estate Partners, has raised €725 million ($882 million) in capital commitments thus far.
The fund is backed by a wide range of institutional investors in continental Europe, North America and Asia Pacific, including new and existing Greystar investors.
Greystar said the equity comes at a time when the markets for apartment buildings and student housing in Europe are characterized by limited supply. Coupled with the ongoing urbanization trend in Europe’s top cities and the increasing unaffordable home ownership, this has resulted in a growing demand.
The residential real estate fund will focus on the acquisition and selected development of promising, individually furnished and professionally managed residential properties, including apartment buildings and modern student residences. The vehicle will target top cities in Great Britain, the Netherlands, Spain, Ireland, France, Germany and Aust
