Heitman launches €250m European residential fund
Heitman has announced the first close of Heitman European Residential Investment Partners, a closed-end, commingled fund with the strategy of aggregating and managing a portfolio of for-rent residential properties in Western Europe.
Targeting approximately €250 million ($279 million) in equity commitments, Heitman European Residential Investment Partners will focus on assembling a portfolio of small- to medium-sized, rented residential properties and larger single assets across Western Europe for core/core-plus investors.
Heitman expects the fund will pursue further investments across Germany with appealing demographics and economic growth potential, including select German cities such as Dresden and Leipzig.
Heitman European Residential Investment Partners closed on a seed investment comprising 1,595 German private for-rent residential units, containing more than 1.2 million square feet, from Grainger.The portfolio is spread across 110 bui