Heitman closes fourth Euro fund

The Chicago-based value-added fund manager has closed Heitman European Property Partners IV on €505m.

Heitman has closed its fourth value-added European fund on €505 million.

Heitman European Property Partners IV held a first close last September with €380 million of commitments. The fund has a three year investment period.

The Chicago-based firm said in a statement the fund would target retail, residential, offices and logistics across Central and Eastern Europe. Heitman said, with leverage, it expects to be able to deploy up to €1.3 billion.

“Today’s challenging property market conditions throughout the world make this an attractive climate for investment,” said Heitman managing director Gordon Black.