Hines, a real estate investment manager, has exceeded its fundraising target for the Hines European Value Fund 3 (HEVF 3), securing over €1.6 billion in equity commitments.
Despite challenging market conditions in 2023, the fund attracted significant interest, surpassing its initial €1.5 billion target. The fund’s investor base has grown to 35, comprising a mix of new and returning investors, including institutional pension funds and insurance companies worldwide.
HEVF 3 has already committed over €300 million to a portfolio spanning three key markets, focusing on student accommodation, distribution logistics and sustainable office spaces. The fund, with its investment period extending to mid-2026, aims to capitalise on sectors with high demand and potential for rental growth.
In line with Hines’ strategic rebranding, HEVF 3 will now operate as Hines European Real Estate Partners III (HEREP III), enhancing Hines’ fund offerings across Europe. This rebranding aligns with Hines’ investment strategy, spanning various risk profiles and growth opportunities in European markets.
Alex Knapp, chief investment officer for Europe at Hines, added, “The Hines European Real Estate Partners series has a track record of sustainable and income-accretive asset management. Following the success of previous fundraising rounds, this latest raise in a challenging macroeconomic context is a testament to the series’ reputation among institutional investors for strong returns.”
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