Hines raises €720m

The Houston-based real estate investment firm closes its value-added fund above target.

Hines has held a final close on Hines European Value Fund at €720 million ($841.9 million, £642.1 million), surpassing its initial fundraising target of €500 million.

The fund will invest in a various type of property in Europe, including office, retail, logistics, residential and mixed-use, under value-add or core-plus strategy.

16 investors committed to this fund and 12 of them are first-time investors.