Le mie ricette per la real estate communityEuropa Capital, the pan-European real estate investment manager, announces that it has raised €350 million in a first close of its new open-ended vehicle, the Europa Diversified Income Fund (“EDIF” or the “Fund”), with seed capital from its principal shareholder, Mitsubishi Estate Co., as well as backing from European and Asian institutional capital.
EDIF, which is designed for an international investor audience, is focused on creating stable and diversified income through investing in logistics, residential and offices. The Fund will capitalise on the structural changes of innovation and urbanisation, targeting strong economies in Western Europe, with a focus on France, Germany, the Netherlands and Denmark.
Through favourable sector weightings and leveraging Europa Capital’s value-add asset management skills, the Fund will aim to provide long-term outperformance of market benchmarks, for which ESG considerations are a key performance metric.
The initial seed portfolio, totalling c. €350 million of NAV, comprises a mix of logistics, residential and office investments. The portfolio, which has outperformed its market indices to date, is 99% occupied and has recorded 99% rent collection in both Q2 and Q3 2020, demonstrating its resilience during the COVID-19 pandemic. With accretive leverage, the Fund has capital remaining to deploy into further acquisitions to diversify the portfolio.
The Fund has also recently completed the acquisition, in partnership with Keystone Investment Management, of the first of three residential buildings in the Øresund region of Copenhagen.
Source : Company