Aberdeen Asset Management and Cordea Savills each first-closed property funds with €185 million from institutional investors.
Aberdeen raised €115 million for the first close of a fund that will invest in rental housing in Sweden.
Göran Bengtsson, Aberdeen’s property head in the country, said: “Housing in Sweden is experiencing strong investor interest and we feel we have managed to fill a gap in the market with this new product for mid-sized institutional investors.”
Cordea Savills raised €70 million out of a targeted €500 million in the first close of a fund that will invest in shopping centres, retail parks and high street shops in Germany, the UK, France and the Nordic states. The fund will take on leverage to extend its capital to about €140 million.
Thomas Guetle, fund director, said: “The retail sector has outperformed offices in each of the target markets over the ten years to the end of 2011. We anticipate retail will outperform as a sector over the next five years in the majority of Western European economies.”
©2012 funds europe
