US private real estate investment firm Beacon Capital Partners is to announce that it has closed a $4 bn (EUR 3 bn) global office fund, newspaper Financial Times reported on Tuesday. The fund, believed to be the biggest ever of its kind, is 80% committed by 200 investors mainly public US pensions, the paper said.
US private real estate investment firm Beacon Capital Partners is to announce that it has closed a $4 bn (EUR 3 bn) global office fund, newspaper Financial Times reported on Tuesday. The fund, believed to be the biggest ever of its kind, is 80% committed by 200 investors mainly public US pensions, the paper said.
Last April, the fund bought the 34-storey Citypoint skyscraper in the City of London for around £650 mln (EUR 957 mln), and in July it snapped up the 160-metre high Axa Tower at La Défense district in Paris. Beacon is redeveloping the building which will be the highest skyscraper in France when completed in late 2010.