Investment managers throughout Europe had a busy summer as commercial real estate funds approached their targets and held closings at various stages.
BlackRock launched the UK Long Lease Property Fund. The fund, which targets long-leased assets, has raised £250 million (€285 million) from six UK pension fund investors to date. Also targeting the United Kingdom, Cordea Savills held the final close of its Prime Residential Development Fund; it has purchasing power of more than £200 million (€228 million).
Aviva Investors held a £1 billion (€1.1 billion) close for the open-end Lime Property Fund. The core fund has invested in 59 properties. Aviva also launched the UK Commercial Real Estate Senior Debt Fund, which will invest in fixed-rate first-ranking mortg