Real estate funds rake in EUR 2.4b of commitments in October

Non-listed real estate funds raised $3.1 bn (EUR 2.4 bn) in capital commitments globally during October, according to data published by Indirex, an online community for indirect real estate.

Globally, 17 funds confirmed new equity commitments. Debt was a prominent feature with several new funds being announced and the Pramerica US Real Estate Debt Fund reporting a close on $805 mln.

Equity announcements were spread across the globe. Europe fared well with nearly EUR 1 bn reported, notably in Sweden, Germany, Austria and Poland.

Indirex said there were 12 announcements in Europe this month, eight of which reported successful raises, the largest of these being the EUR 180 mln first closing of Areim Fund II and the final closing of Warburg-Henderson Österreich Fonds Nr. 2, also at EUR 180 mln.

Other raisings included Europa Fund IV and IVG Warsaw funds both raising EUR 100 mln, Henderson German Logistics Fund taking in EUR 90 mln and an extra EUR 50 mln raised by the Internos Real Investors European Hotel Fund.

Three early announcements were made for new fund launches in the UK, including the latest Longbow fund, Longbow UK Real Estate Debt Investments III, but no cash was reported raised.