TIAA Henderson Real Estate’s Indirect Property Fund has completed an investment in AEW Europe's Logistis fund, the company announced on Monday.
TIAA Henderson Real Estate’s Indirect Property Fund has completed an investment in AEW Europe's Logistis fund, the company announced on Monday.
Financial details were not disclosed. The Logistis fund is an established pan-European logistics investment vehicle. TH Real Estate's Indirect Property Fund Europe holds a diversified portfolio of unlisted and listed interests predominantly weighted towards Western Europe.
Launched in 2005, the Indirect Property Fund is one of the largest open-ended European property fund of funds in the market. The fund currently has a volume of over €200 mln with a target size of €500 mln. The target total return is 8% net to investors with a secondary 5% income return target.
Commenting on the investment, Jason Rodrigues, Fund Manager at TH Real Estate, said: ´The AEW Europe Logistis Fund has an existing portfolio of high-quality assets, a strong track record and an experienced manager – all features that we look for in our investments. The allocation complements the current portfolio of holdings and is in line with our strategy of focusing on core and core-plus, income-distributing funds with conservative levels of gearing.'