Real I.S. launches European real estate fund
German asset manager Real I.S. has launched a new European real estate fund, according to a statement.
BGV VII Europa is seeking to raise €1 billion ($1.12 billion) and will focus primarily on office and retail properties, but may also invest in mixed-use, logistics and hotel assets. The core-plus fund will mainly target properties in Germany and France, with the possibility of branching out to the Benelux countries, Ireland and Spain.
Real I.S. recently acquired the Black Pearl office building in Brussels from the Immobel Group as a seed investment for the fund. The 122,407-square-foot property is currently home to the European Union for a contract term of 15 years.