CBRE Global Investors has closed its fourth Asia value-add investment fund and will receive $1bn (€863m) from 21 institutional investors worldwide.
The real asset investment manager said, at final close, CBRE Asia Value Partners IV received equity commitments from institutional investors in the Americas, Asia-Pacific and EMEA. The fund is now closed to new investors.
The fund’s investment strategy is to create core logistics assets through value-add investments or de-risked developments in the most liquid markets in Asia-Pacific, as well as selective investments in other sectors.
CBRE’s Asia Value Partners IV and its co-investment vehicles are expected to have a total purchasing power of more than $2.5bn, including leverage.
To date, the investment team has acquired or committed to $1.1bn of real estate through five investments, primarily in logistics assets in Japan, China and South Korea.
Adrian Baker, chief investment officer for Asia-Pacific at CBRE Global Investors, said: “Forecasts of private consumption growth in Asia-Pacific are notably higher than in other major regions.
“Additionally, Asia-Pacific e-commerce sales as a percentage of total retail sales are the highest of all major regions and are expected to continue to grow at a faster pace. These factors support the case for investment in modern logistics facilities across the region.”
CBRE Global Investors currently has $10bn invested in Asia-Pacific, both thorugh public markets and private real estate funds and separate accounts.