Rockspring Property Investment Managers has closed its latest core, core-plus and value added vehicle, TransEuropean Property Limited Partnership V with more than €350 million of equity commitments.
The London-based firm said it had beaten its target, and in the process, had managed the largest equity haul to date for the Rockspring TransEuropean funds series, having launched the first some 20 years ago.
It is aiming to exploit continuing distress, ‘value weaknesses’ and market dislocation across its target markets, being Western Europe counties, namely Germany, the UK, France, the Nordics, Switzerland, and Poland.
So far, it has made two investments totalling €119 million – a portfolio of six retail assets in Sweden for €82 million, and the Löwen Center, which is a retail asset in Leipzig, Germany for €37 million.
Two further transactions are in exclusivity.
The limited partners in the TransEuro V fund include five new and seven existing institutional investors from Europe, the Middle East, Asia and North America.
Robert Gilchrist, chief executive, said: “The market and economic dislocation across Europe has created some exciting opportunities for investors who understand that current pricing levels can create some very real openings to create value.”