TH Real Estate has opened a new fund which will invest in 'future-proof' cities across Europe.
The fund was launched with €200 million in co-investment capital provided by TIAA, a statement issued by the firm said.
TH Real Estate European cities fund manager Andrew Rich said: “Following extensive research based on megatrend filters, we have identified a list of European cities for investment, creating a unique product which will benefit our investors' long-term goals.”
Over 200 European cities were assessed by TH Real Estate based on factors such as urbanisation, technology, quality of life and population growth. Of the 200, 42 cities made the firm’s final list.
According to TH Real Estate, individual investment strategies will be applied to each city.
TH Real Estate global co-head of research Alice Breheny said: “A city-based real estate strategy, underpinned by long-term, structural trends, that strikes the right balance of risk and diversification, while taking advantage of short-term pricing opportunities may enjoy above-average portfolio level returns, lower-than-average volatility, and modest downside risk, for long-term investors.”
The fund is targeting equity of €3-5 billion over next five years.
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