Key Takeaways
- • CBRE Investment Management closed Asia Value Partners 7 (AVP 7), an Asia Pacific value-added real estate fund, with equity commitments of $1.865 billion, above its $1.5 billion target.
- • An additional $250 million in co-investment capital brings total equity raised to $2.115 billion.
- • The fund is expected to have total purchasing power of more than $5 billion, to be deployed over a 36-month investment period.
- • Adrian Baker, president and CIO of APAC direct real estate, says the strategy focuses on Japan, targeting standing assets below replacement cost and developing and repositioning logistics facilities.
Summary
CBRE Investment Management has announced the final close of Asia Value Partners 7 (AVP 7), its Asia Pacific value-added real estate fund, according to the firm's announcement as reported by Institutional Real Estate, Inc. The fund closed with equity commitments of $1.865 billion, exceeding its $1.5 billion fundraising target. An additional $250 million in co-investment capital was secured, bringing total equity raised to $2.115 billion.
The fund is expected to have total purchasing power of more than $5 billion, which will be deployed over a 36-month investment period. The gap between equity raised and purchasing power reflects the leverage the strategy is expected to employ, though the source does not specify the target leverage level.
Adrian Baker, president and CIO of APAC direct real estate and portfolio manager for the fund series, said the region "continues to offer compelling opportunities for value creation." He said the strategy is focused on Japan, targeting well-located standing assets priced below replacement cost and applying operating expertise to develop and reposition high-demand logistics facilities. According to Baker, these strategies are intended to capture structural growth in the logistics sector while creating durable value.
The source article is truncated, so further details on fund terms, investor composition and fee structure are not available in this summary.
The fund is expected to have total purchasing power of more than $5 billion, which will be deployed over a 36-month investment period. The gap between equity raised and purchasing power reflects the leverage the strategy is expected to employ, though the source does not specify the target leverage level.
Adrian Baker, president and CIO of APAC direct real estate and portfolio manager for the fund series, said the region "continues to offer compelling opportunities for value creation." He said the strategy is focused on Japan, targeting well-located standing assets priced below replacement cost and applying operating expertise to develop and reposition high-demand logistics facilities. According to Baker, these strategies are intended to capture structural growth in the logistics sector while creating durable value.
The source article is truncated, so further details on fund terms, investor composition and fee structure are not available in this summary.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.