Hines has raised over €1bn for its European open-ended core-plus real estate fund.
The global real estate investor said Hines European Property Partners (HEPP), launched in 2022, has attracted commitments from “partners including major institutional investors and pension funds worldwide”.
HEPP targets the major asset classes of industrial, living, retail and office, in addition to emerging sectors such as data centres and senior living, Hines said.
Fund manager Jorge Duarte said: “We have taken advantage of the shift in market conditions in Europe and tactically deployed significant capital over the last 12 months.”
The fund’s recent acquisitions include a forward-funded UK multifamily residential development in Newcastle, a 260-bed purpose-built student-housing project in Bristol, Hines’ debut logistics warehouse in Sweden and a solar-powered logistics facility in Italy.
Duarte said: “Investors can see how the portfolio has been assembled so far, and that coming into the fund now means not only a short path to deployment but also gaining exposure to what are expected to be the best-performing assets classes over the coming years.
“They also recognise what are likely to be the best investment conditions for a core-plus real estate fund since the great financial crisis in 2008. We see no sign of this investor demand for the fund abating over the next 12 months.”
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