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Cushman & Wakefield Investors launches first property fund
1 Oct, 2007, London
Cushman & Wakefield Investors, in partnership with financial services group KGAL, is launching its first European property fund – The Paris Office Growth Fund. The Paris Office Growth Fund will target core plus/value add opportunities and will be a Luxembourg-domiciled vehicle designed for institutional investors.
The target equity will be €160 million, which with conservative gearing of up to 65%, will create a fund with a gross asset value of €400 million. The fund will provide investors with focused exposure to the Paris office market. It is intended that the Fund will benefit from the Paris market which has an attractive leasing market and is one of the most active investment markets in Europe.
David Rendall, Co-head of C&W Investors in Europe said: “The timing of the launch of our first the fund is highly attractive, as it will enable us to take advantage of a more balanced investment market. Combining forces with KGAL creates a strong partnership with complimentary skills in property and financial management.”
Stefan Ziegler, Managing Director of KGAL, commented; “There is already strong interest for this profile of product with a clear focus and strategy. This will compliment KGAL's existing real estate fund products.”
For further information, please contact:
+44 20 7152 5110