Hines launches second European value-add fund
Houston-based Hines has launched a new European value-add real estate fund, Hines European Value Fund 2, the firm reported in the IREI FundTracker database.
The fund is a Luxembourg Special Limited Partnership and will focus its investment efforts within a multitude of countries in Europe.
A fundraising target was not disclosed.
Following the fund strategy of its predecessor, Hines European Value Fund 2 will target CBD office, industrial, logistics, mixed-use, multifamily and retail properties.
The first fund in the series, Hines European Value Fund, closed in September 2018 with roughly €714 million ($793.7 million) in capital commitments.