CBRE Global Investors has announced the final close of its second European shopping centre fund at €735m (£618m).
The CBRE European Shopping Centre Fund II will target core-plus shopping centres across Europe with an expected 11% net IRR.
Florencio Beccar, head of EMEA retail and fund manager of ESCF II, said 35% of the investors were existing ESCF customers.
He said: “This capital raise has exceeded our expectations and shows that investors are keen to support managers that offer a focused and specialist investment strategy.”
The fund has bought four shopping centres in Germany, Poland, Italy and Spain.
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