Property fund manager Cordea Savills has successfully completed the placing of its Pan European Property Fund. Mediobanca acted as sole underwriter. To date, the fund has attracted EUR 170 mln of equities to be invested in logistics, retail and office property across Europe. The fund has already eyed investment opportunities in the Netherlands, Belgium, Germany and Scandinavia, Cordea Savills said.
Property fund manager Cordea Savills has successfully completed the placing of its Pan European Property Fund. Mediobanca acted as sole underwriter. To date, the fund has attracted EUR 170 mln of equities to be invested in logistics, retail and office property across Europe. The fund has already eyed investment opportunities in the Netherlands, Belgium, Germany and Scandinavia, Cordea Savills said.
The Pan European Property Fund will be Italy's first real estate fund to invest solely on foreign property. The placing was aimed exclusively at qualified investors in Italy. The fund, which has a term to maturity of 8 years, will target a yield equivalent to European inflation, plus 4%.