Savills Investment Management has completed a first closing of its newly-launched Savills IM Asia-Pacific Income and Growth Fund (APACIG).
The pan-Asian income and growth fund raised €95 million ($115 million) from institutional investors, and the capital is immediately being invested.
APACIG focuses on core-plus investments in Asia Pacific’s developed markets and key gateway cities. The fund will invest in office, logistics/industrial, retail and residential assets. APACIG is also targeting buildings that can provide a value-add opportunity for improving the sustainability credentials of these assets through retrofitting and buildings with high sustainability characteristics.
Savills IM said the target total investment volume is approximately €1 billion ($1.2 billion), including a maximum debt ratio of 60 percent at the fund level.
Savills IM has appointed Greg Lapham as head of investment, Australia, to manage APACIG. Lapham joins Savills IM fro
