Invesco Real Estate, a global real estate investment manager, has held a final close on its European Value-Add Fund, having raised a total of €327 million ($387 million) of equity.
With leverage, the fund is positioned to create a portfolio of up to €800 million ($945 million) in this strategy. It received equity commitments from 13 institutional investors from Germany, Denmark, the United Kingdom, Luxembourg and the United States.
“We are approaching this strategy in a unique way, using the breadth of the IRE platform across Europe to focus specifically on small- to medium-sized equity investments where we believe the value-add opportunities to be the most attractive,” said Kevin Grundy, managing director – fund management at Invesco Real Estate.
The European Value-Add Fund, which launched in the later half of 2014, invests in strong locations where intensive asset management can transform properties into stabilized real estate for sale into the core
