Fundraising - APRIL 15, 2014

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Invesco markets first commingled core fund with focus on Asia Pacific

by Reg Clodfelter

Invesco Real Estate is currently marketing its first ever commingled core real estate fund focused on the Asia Pacific region, the Invesco Real Estate Asia Fund.

The open-end fund, which has already raised $400 million from six founding investors, will target core/core-plus office, industrial, residential and retail properties with an emphasis on office properties. It will invest across Asia with a focus on Australia, China, Hong Kong, Japan, Singapore and South Korea, and is expected to make its first two or three investments in Japan and Australia to build a stabilized portfolio.

Investments will average $80 million to $150 million with leverage no higher than 60 percent. Fund-level leverage will not exceed 40 percent. Minimum LP investment size in the fund is $10 million, and gross returns are expected to be in the 9 percent to 11 percent range. An initial close is expected by June 30.

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