Fundraising - JULY 25, 2016

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TH Real Estate holds €500m first close

by Andrea Waitrovich

TH Real Estate has completed a first close of €500 million ($549 million) for its European Cities Fund.

 “This strong first capital raise is testament to the fact that investors are looking beyond short-term uncertainty and still see value in long-term defensive strategies backed by demographic megatrends, driving growth in successful cites,” said Andrew Rich, European cities fund manager, in a statement. “TH Real Estate has faith in the underlying fundamentals of the U.K. and European real estate markets that will remain attractive to investors over the long-term.”

With leverage, the European diversified core, open-ended fund will target a portfolio amount of approximately €700 million ($768 million) from this initial capital.

TH Real Estate’s European Cities Fund is a city–based real estate strategy, underpinned by long–term, structural trends, which seeks to provide investors with diversified

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