CBRE Global Investors has raised €1bn (£890m) in the final close of its European value add fund Europe Value Partners 2.
The fund, which targets a pan-European reposition-to-core and develop-to-core strategy, raised capital from institutional investors across Europe, North America, Asia and the Middle East.
To date, it has targeted deals in Spain, Denmark and France.
The fund has already committed €200m of equity in three deals in the high street retail and logistics sectors, with another due to close soon.
Charles Baigler, fund manager for Europe Value Partners, said: “This has been a truly global effort with capital raised on three different continents.
“We launched the Europe value add series three years ago and have demonstrated our ability to create value in the European market.
“We believe we have a competitive sourcing advantage due to the model we have adopted, which uses both in-house expertise spanning 15 countries across EMEA and selected local operating partners.”
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