Fund manager Invista Real Estate has been appointed by UK insurer Clerical Medical (CleriMed) to establish a pan-European property portfolio. The fund will have a target size of £300 mln (EUR 443 mln) over the coming three to five years. It will invest directly in commercial real estate assets in the main European markets with a core income profile.
Fund manager Invista Real Estate has been appointed by UK insurer Clerical Medical (CleriMed) to establish a pan-European property portfolio. The fund will have a target size of £300 mln (EUR 443 mln) over the coming three to five years. It will invest directly in commercial real estate assets in the main European markets with a core income profile.
A spokesperson for Invista said that the vehicle would invest solely in mature European markets, in particular France and Germany. Invista's continental European team will be managing the fund.
'We believe it is a good time to be investing in continental Europe and an opportunity to benefit from pricing differentials across the markets. We will be targeting stable, income-producing assets in the core markets where there continue to be opportunities to buy into the growth cycle,' said Invista's head of European funds Tony Smedley.
