Brookfield Asset Management has closed its first European core-plus property fund having accumulated equity commitments totalling €1.14bn (£1.02bn).
The amount raised beat the €1bn target for the Brookfield European Real Estate Partnership fund and attracted a mix of insurance firms and public and private pension plans.
The fund has already spent more than €50m on acquiring an office building in Paris located at 42 rue de Paradis.
“We are grateful for the strong support we have received from our cornerstone investors,” said Zachary Vaughan, head of European real estate at Brookfield.
“We continue to see an active pipeline of opportunities for high-quality European assets with long-term growth potential that can benefit from Brookfield’s local operating expertise.”
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