Valad Europe has held a €180 million ($244 million) first close for its Valad European Diversified Fund, which will invest in core-plus and value-added assets in the United Kingdom and Germany. The vehicle has a €450 million ($610million) equity target.
Valad European Diversified Fund targets high-quality, well-located assets in the office, retail and logistics sectors, targeting strong credit tenants with non-institutional remaining lease term, with individual lot sizes of between €6 million and €24 million ($8 million and $32 million). The fund will also invest in small to medium-sized portfolios. Also, it will employ between 50 percent to 65 percent leverage with strong cash-on-cash yields.
Valad European Diversified Fund has started to invest its capital. It purchased a retail warehouse in Aintree, England. The property is leased to Wikes, a U.K.-based home improvement and building tra
