Euroffice Fund Achieves Investment Target
AEW Europe’s Euroffice Fund has completed its investment programme with two recent acquisitions, achieving its investment target of €725 million. The core fund was launched in 2006 and targets office assets in major European cities; investors comprise 17 French institutions.
“Finishing the investment programme for a fund which went through the last financial crisis and which stopped all investments during 2007 is a very important step. Euroffice investors will benefit from the strong income characteristics and potential for capital growth of the portfolio,” says Jean Lavieille, co-head of fund management for the Euroffice Fund.
The Euroffice portfolio comprises 12 assets, with half in Germany and the others in Amsterdam, Brussels, Madrid and Paris. The two most recent acquisitions are the 12,500-square-metre Van Doorne building in Amsterdam, which is let to a major Dutch law firm, and the 38,440-square-metre Nordbahnhof Carrée in Berlin, a LEED Gold office bui