Clarion Partners has closed its latest European sale-leaseback real estate fund, securing €552m in equity commitments from investors Europe, the US, the Middle East and Asia.
The capital raise provides Clarion Europe Sale-Leaseback Fund III with €1.1bn in total investment firepower.
The core-plus vehicle has already deployed or allocated approximately 30% of its capital, acquiring 10 assets across Germany, the Netherlands, Portugal and the Czech Republic.
In addition to originating sale-leasebacks, the fund can acquire leased assets and pursue build-to-suit transactions across all property types.
Rory Buck, managing director and head of investment at Clarion Partners, said: “Underscoring Clarion’s long-term commitment to delivering strong performance and innovative investment solutions to our clients, this successful fundraise represents another important achievement in the expansion of our European business.
“The capital raised provides us with the scale and flexibility to continue executing on one of our highest conviction strategies in Europe’s most established markets. It underscores the enduring appeal of the European commercial real estate sector and recognition of the performance that our expert team has delivered over time.”
Thorben Schaefer, managing director at Clarion Partners, said: “Recent dislocation in capital markets has resulted in the tightening of available liquidity for corporates, with sale-leasebacks providing an attractive and growing alternative to bank financing.
“This is creating an opportunity for specialist net-lease managers and investors such as Clarion who are seeking exposure to assets that are integral to the operations of high-quality businesses and generate predictable, long-term cash flows.”
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