BlackRock launches £280m Eurozone core fund

By Paul Norman - Wednesday, September 12, 2018 13:22

BlackRock Real Assets has launched the open-ended Eurozone Core Property Fund targeting "high quality, income producing investments located in the Eurozone and Euro-pegged countries".

The fund and will invest primarily in offices, retail, and logistics, with selective exposure to  alternatives. The Fund secured €280m in commitments in a first close, from investors across the region.

Ian Williamson, Director and Portfolio Manager of the Fund, BlackRock Real Assets, said: “Eurozone commercial real estate is in the early stages of the occupational cycle, especially when compared to previous cycles, and we believe that improving economic conditions will continue to drive property performance across the region.

"Our team has significant experience in commercial real estate across the continent, and will benefit from the investment sourcing capabilities of our on-the-ground teams in all our target markets. Our core investment approach is looking to provide a stable income return to investors from secure and enhanced income.”

BlackRock said the fund had a "strong investment pipeline – including office properties in Paris, Munich and Hamburg, and retail properties in Copenhagen" and will implement a "multi-strategy approach targeting reversionary assets, low vacancy assets, and assets in transitional markets, to seek to capitalise on emerging trends".

Marcus Sperber, Managing Director and Global Head of Real Estate, BlackRock Real Assets, added: “BlackRock’s Global Rebalancing Survey suggests that institutional investors are rebalancing their portfolios, and shifting allocations to more illiquid assets,[2] in particular, Real Assets[3], which aim to generate high potential returns and can also generate income. Given our experience and track record in global core real estate in the US, UK, Asia, and now Europe, BlackRock Real Assets is well positioned to source attractive investment opportunities that can help our clients achieve their financial goals.”

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