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Divco West raises €1,32B for its largest RE fund

13 September 17 - Irene Theofanidou
Divco West raises €1,32B for its largest RE fund

COMPANIES

Zeus

Fund - GREECE

Solum Property Solutions

Consultant - GREECE

GAIAOSE S.A.

Agency - GREECE

IBI Group

Consultant - GREECE

ΕΡΡΙΚΟΣ ΑΡΩΝΕΣ

Investment - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
Divco West Real Estate Services has raised $1.59billionn (€1.32billion) for its largest real estate fund to date.

 

More than 40 investors, including domestic and foreign pension funds, finanicial institutions, endowments and high-net-worth individuals, placed capital into the fund. Around 80% of the capital came from existing investors.

According to realestate.ipe.com, the fund has already acquired office buildings in Boston and San Mateo, California for $66million and $73million, respectively.

The fund is targeting net returns of 10% to 13%, using approximately 65% leverage, by buying office buildings and R&D buildings that can be improved, respositioned or re-leased.

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