Oreima collects €214m from European institutional investors

French real estate asset manager Oreima has raised €214 million ($253 million) for its value-add Oreima IV fund from European institutional investors, according to various news reports.

Oreima will use the funds to invest primarily in office or mixed-use buildings, in addition to some residential, in Paris and regional cities around France, according to Decideurs Magazine. Oreima will target properties to be rented or renovated, with the aim of increasing their value over the long term.

“Our ambition is to pursue a voluntary investment plan by selecting quality properties and modernizing them while respecting the history specific to each site and the environment,” said Brigitte Sagnes Dupont, president of Oreima. “We are delighted to be able to actively contribute to supporting the economy in the context of the crisis that our country and the world are going through.”

The fund is targeting €300 million ($355 million) in equity by the end of