Fundraising - DECEMBER 14, 2015

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Standard Life holds €391m final close

by Andrea Waitrovich

Standard Life Investments has held a final close for its second European real estate club fund, European Real Estate Club II, raising more than €391 million ($431 million) of equity from 10 investment groups from five countries across three continents.

The club will have an investment capacity of up to €790 million ($870 million), using leverage of 50 percent. The seven-year closed-end real estate investment vehicle focuses on buying commercial property in core markets — specifically the Benelux region, France, Germany and Scandinavia.

The fund’s portfolio consists of an office building in Paris; Hanse Forum, an office asset in Hamburg, Germany; Von-der-Tann, an office property in Nuremburg, Germany; Regina, a retail and office property in Aarhus, Denmark; a logistics facility in Dusseldorf, Germany; and an office asset in Aarhus, Denmark.

Standard Life Investments European Real Estate Club, the firm’s predecessor vehicle,

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