BlackRock Private Markets has announced the first close of its BlackRock Europe Property Fund VI (EFVI), raising €774 million (US$844 million).
This fund is part of BlackRock’s European value-added real estate series and targets the most liquid markets in Europe, including the UK, France, Germany, the Nordics and Spain.
EFVI is designed to invest in high-quality assets that align with key long-term economic drivers, such as demographic shifts, digital disruption and the transition to a low-carbon economy and net-zero built environment.
Amid recent repricing in European real estate markets and stabilising interest rates and inflation, EFVI aims to capitalise on what is seen as an attractive entry point for investment.
The fund’s strategy includes developing student housing, new residential units and providing logistics and data center premises in undersupplied markets.
EFVI, as an SFDR Article 8 fund, emphasises creating assets with strong ESG credentials, focusing on energy efficiency and pathways to net-zero emissions.
EFVI has already committed €289 million across four investments, including logistics assets in Sweden and multi-family and student housing in the UK.
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