AEW Europe hits €235m second close

The Paris-based firm has held a second close on its European value add fund which is targeting €700 million.

AEW Europe, the Paris-based real estate investment management firm, has reached a €235 million second close on its Europe Value Investors Fund.

The fund, which has a target of €700 million, is focused on core-plus and value-add opportunities in the office sector predominately in Germany, France and the UK.

The firm has already acquired two assets in Germany and three in France for the fund. An acquisition of an asset in Paris is expected to complete by the end of March bringing the total investment volume of the fund close to €200 million.

“The fund’s strategy is to take advantage of the strong demand for stabilized assets in core markets. We will invest in office assets that can be managed or repositioned to core, to support the ongoing re-allocation of assets into real estate,” said Carsten Czarnetzki, AEW Europe’s fund manager for Europe Value Investors.

The fund close comes hot on the heels of another successful fundraise for AEW Europe. Back in December PERE exclusively revealed that the firm raised €820 million in fresh commitments for its core industrial and warehouse platform, Logistis – the biggest equity raise the pan-European real estate investment manager has ever had.

AEW Europe has nine offices throughout Europe employing more than 270 professionals. The firm has launched a number of private equity real estate funds since 2001 and currently manages more than €18 billion of assets in Europe across a number of funds and separate accounts.