Mapletree Investments has closed its latest office-focused private fund, Mapletree Europe Income Trust (MERIT), with €507 million ($602 million) in equity commitments.
The fund was fully invested at closing, with a portfolio of seven high-quality, grade-A office properties located in the cities of Manchester, Bristol, Aberdeen, Warsaw, Munich, Dublin and Utrecht. The portfolio has a total asset value of €1.2 billion ($1.4 billion).
“The successful fundraise of MERIT amidst the current COVID-19 pandemic demonstrates the confidence and endorsement that investors have in Mapletree’s fund management capability and track record,” said Hiew Yoon Khong, CEO of Mapletree. “Investors of MERIT will benefit from a robust and stable income stream generated from a portfolio of high-quality European commercial assets, anchored by long lease profiles.”
