Heitman, a global real estate investment management firm, has held a $338 million final close of Heitman Asia-Pacific Property Investors (HAPI), a value-added fund, exceeding its $250 million target.
The pan-Asia fund will seek assets where there are opportunities to create or enhance value through asset repositioning, expansion or redevelopment. The fund has already made initial commitments to investments in Tokyo, Melbourne, and Hong Kong and will focus the remainder of the capital on the most developed and liquid markets in the region including Tokyo, Osaka, Sydney, Melbourne, Brisbane, Hong Kong, Singapore and Seoul. Within these markets, the fund will invest across select traditional property types including retail, logistics, residential and office, as well as investments in the specialty sectors such as self-storage, student accommodation and medical office.
The fund received commitments from multiple investors, including $50 million each from the
