Standard Life Investments has spent €300m on five European assets, its first for the company’s Euro Club fund.
The Standard Life Investments European Real Estate Club bought in the Netherlands, Germany, France and Denmark.
Global investors backed the fund with €300m, as reported last year.
Daniel McHugh, head of Continental European real estate at Standard Life Investments, said the latest deals were a “strong start to the fund’s investment programme”, with more investments in the pipeline.
“They are testament to our strategy to focus on prime assets in core European markets with some measured risk,” McHugh said.
US institutions, as well as investors from Canada, Thailand, the Netherlands, the UK and the Middle East – most of which were advised by The Townsend Group – backed the club fund.
The fund, structured as a closed-end limited partnership, was designed as a club fund, limiting the number of underlying investors and giving them a level of oversight on transactions.
The latest deals include a 20,000sqm office development in Leiden in the Netherlands, and two logistics properties south east of Paris and sold by LaSalle Investment Management.
A 48,000sqm logistics property in Korbach, Germany, and a portfolio of three office and retail properties in Copenhagen, Hilerød and Odense made up the portfolio.