21 August 2018

Invesco launches its first open ended pan EU fund

19 July 17 - RE+D Magazine
Invesco launches its first open ended pan EU fund



Consultant - GREECE

IBI Group

Consultant - GREECE

Solum Property Solutions

Consultant - GREECE


Public entity - GREECE


Antulio Richetta

Director IBI Group
Invesco Real Estate has launched its third pan-European hotel fund and for the first time has given it an open-ended structure.


According to realestate.ipe.com, the fund manager said it had raised close to €180m from 10 institutional investors in an initial round of fundraising.

The switch to a perpetual-life fund for its third vehicle reflects a wider shift in favour of open-ended structures, as investors seek long-term exposure to real estate markets.

Invesco said the open-ended structure would also suit hotel investments because of their longer leases, lower volatility and long-term income and return characteristics compared with traditional commercial property.

The fund will seek to generate an income return of between 6% and 7% by acquiring high quality, mid-market hotels in city centres that can cater to business travellers in the week and tourists at the weekends.

It has a €200m seed portfolio of four assets in the Netherlands and Germany, and aims to grow the fund to around €500m in the first two years.


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