AEW Raises €176 Million for French Retail Property Fund
Pan-European real estate investment manager AEW Europe has raised a further €176 million for Fondis, its French core retail fund. The €176 million capital raise will provide the fund with a further €320 million of buying power. The new injection of capital will double the fund’s portfolio from €360 million to approximately €700 million when fully invested.
“The ability of the Fondis fund to attract significant amounts of new capital in extremely difficult market conditions demonstrates the fund’s strong track record and the confidence of investors in the future prospects for the French retail property sector,” says Stéphane Sebban, Fondis fund manager. “We see particularly good investment opportunities in town centres and more secondary retail locations in France.”
The fund’s strategy is to focus on lot sizes of up to €70 million,