Tishman Speyer’s eighth European value-add real estate fund, which planned to raise €600m, has exceeded its fundraising target by 25%.
The manager said Tishman Speyer European Real Estate Venture VIII (TSEV VIII) received equity commitments totalling €750m from 20 investors from across Europe, Asia and the Americas.
TSEV VIII will pursue a value-added investment strategy, focusing on repositioning, developing and redeveloping high-quality office and mixed-use properties in Europe. TSEV VIII will also consider ground-up development opportunities and residential investments with attractive value-creation potential.
In July, Tishman Speyer, on behalf of TSEV VIII, partnered with Spanish property group Metrovacesa to develop an office complex in Las Tablas.
Bernard Penaud, the head of Europe for Tishman Speyer, said: “The successful closing of our TSEV VIII capital, with commitments in excess of our original target, is a clear indication of the continued strong levels of investor appetite for the first-class opportunities Europe continues to offer.
“It also recognises our teams’ excellent track record of value creation across the region.”