Hines raises €1bn for European fund

Hines has secured more than €1bn (£840m) of equity commitments for its open-ended Hines European Property Partners fund.  Recent acquisitions for the fund include the forward-funding of the largest multi-family residential development for rent in Newcastle, a 260-bed purpose-built student accommodation development in Bristol, a logistics warehouse in Sweden and a solar-powered logistics warehouse in Italy. Fund manager Jorge Duarte said: “We have taken advantage of the shift in market conditions in Europe and tactically deployed significant capital over the past 12 months. “Investors can see how the portfolio has been assembled so far, and that coming into the fund now means not only a short path to deployment but also gaining exposure to what are expected to be the best-performing assets classes over the coming years.” He added: “They also recognise what are likely to be the best investment conditions for a core-plus real estate fund since the great financial crisis in 2008.”