Tishman Speyer has received an initial €600m in capital commitments for its latest European value-add real estate fund which seeks to raise €1bn.
The manager said it has launched Tishman Speyer European Real Estate Venture IX (TSEV IX) and has secured the initial equity commitments from ”large institutional investors”.
Tishman Speyer raised €750m for its eighth European value-add real estate fund in 2018.
Bernard Penaud, the head of Europe for Tishman Speyer, said the launch of the new fund reflects the continued strong levels of investor appetite for first-class European real estate.
“TSEV IX will identify opportunities to execute brown to green strategies in European gateway cities that deliver top quality, sustainable buildings in central, well-connected locations with attractive amenities for customers,” Penaud said.
Andres Guzman, Tishman Speyer’s head of ESG, Europe, said: “Our customers are focused on spaces that intersect cutting-edge infrastructure and technology to foster connections and innovation.
“Tishman Speyer will focus on evolving spaces from functional to experiential, while also matching a wider sustainable ethos and improving the communities around them.
”As a strategic priority, we are integrating ESG into every stage of the real estate life cycle, along with a set of commitments including a goal of net zero carbon emissions by 2050 or sooner across our global portfolio, and ensuring that all future acquisitions will have clear pathways to net zero.”
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