EQT Partners AB
EQT closes its first Real Estate fund
EQT closes its first Real Estate fund – EQT closes EQT Real Estate I with commitments totaling EUR 420 million – Strengthens EQT’s Real Assets investment strategy – leveraging the wider EQT platform – Around 35% of the total commitments have already been invested in four assets EQT today announces the successful closing of its first real estate fund, EQT Real Estate I (“the fund”), with total commitments of EUR 420 million. The fund will invest in value-add real estate assets with a focus on repositioning high-yielding properties, predominantly in the office sector, in gateway cities in western Europe. To date, four investments have been made across the fund’s core geographies: – Rue Lauriston in central Paris, an office refurbishment project – Smart Parc in western Paris, a refurbishment project of two office buildings – Technologiepark Köln in Cologne, a portfolio of seven income-producing office assets to be repositioned – Täby Terass in the Stockholm area, a residential scheme of studio apartments Edouard Fernandez, Partner at EQT Partners, Co-Head of EQT Real Estate and Investment Advisor to the fund, comments: “The European real estate segment has long been dominated by North American private equity firms. With this fund, the market gets a new and exciting pan-European challenger that will be able to take advantage of the EQT signature combination of global reach and local people on the ground.” Robert Rackind, Partner at EQT Partners, Co-Head of EQT Real Estate and Investment Advisor to the fund, adds: “The market outlook is very promising. There is a continued supply-demand imbalance combined with rental growth in gateway cities across Europe, and we see a big “hands-on” value-creation potential.” Lennart Blecher, Deputy Managing Partner at EQT, Head of EQT Real Assets and Investment Advisor to the fund, comments: “EQT Real Estate is a natural next step in the EQT Real Assets investment strategy. The responsible, sustainable development approach has always been a clear differentiator for EQT, and it’s going to be exciting to see the team apply this mindset also to the property sector.” The fundraising for the EQT Real Estate I has now closed. As such, the foregoing should in no way be treated as any form of offer or solicitation to subscribe for or make any commitments for or in respect of any securities or other interests or to engage in any other transaction. Contacts: EQT Press Office, +46 8 506 55 334 About EQT More info: www.eqtpartners.com About EQT Real Estate I
End of Media Release Issuer: EQT Partners AB Key word(s): Finance
19.06.2017 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG. |