AEW’s first French residential real estate fund has raised a further €165m from institutional investors, taking the fund’s total commitments to around €320m.
The manager said the latest fundraising by RESIDYS involved a combination of three new investors, including a Dutch pension fund, an Italian insurance company and a German pension fund.
This additional equity increases the total investment capacity of the fund to over €500m, the manager said.
AEW said since its launch in 2017, the fund has completed 12 acquisitions totalling €220m mainly across Paris and the Paris Region, representing almost half of the fund’s investment capacity.
Stephane Sebban, the fund manager of RESIDYS at AEW, said: “This latest fundraising for RESIDYS, our first Fund dedicated to French residential real estate, marks an important milestone by introducing new high-quality international investors to our client roster.
“Additionally, it demonstrates the continued appetite for this sector, which we believe is set to benefit from positive demographic and urbanisation trends. We will now focus on progressing our investment pipeline and expanding RESIDYS’ portfolio of high-quality assets.”