The Townsend Group’s global value-add real estate strategy has so far raised $767m (€676.1m).

Townsend Real Estate Alpha (TREA), which began fundraising in May, has received capital committments from US and Asian investors, the manager said, adding that the fundrasing is expected to continue through the second quarter of 2019.

Terry Ahern, the CEO of The Townsend Group, said: Terry Ahern, CEO of The Townsend Group, said: “We have built a unique investment platform that brings us competitive advantages in sourcing and underwriting.”

The TREA strategy provides The Townsend the opportunity to continue to achieve positive risk adjusted returns for its clients, Ahern said.

“For the first time, we opened the TREA strategy to European investors in the third quarter of 2018 and see continued interest in the US and Asia.

“We look forward to completing the remaining fund-raise for our strategy in 2019 and continuing our decade-plus track record of value-add investing.”