a.s.r. is a cornerstone investor in the pan-European unlisted real estate fund BlackRock Eurozone Core Property Fund (“Euro Core”). a.s.r. commits € 100 million in this European real estate fund, managed by the global leading asset management firm BlackRock. Five additional institutional investors have also made a commitment to the fund. In total, the joint capital these investors committed during Q2 2018 was € 280 million.
Euro Core will primarily invest in offices, retail, and logistics in the eurozone. In line with BlackRock Real Estate’s approach to sustainable investing including ESG integration, this fund has the ambition to achieve an industry leading score (Green Star) according to the sustainability benchmark GRESB (or equivalent).
Over the past 125 years, a.s.r. manages an unlisted real estate portfolio in the Netherlands. To achieve more diversification, a.s.r. now adds unlisted European real estate to its portfolio. These investments are managed by team Investment Partners of a.s.r. real estate.
According to Dick Gort, ceo of a.s.r. real estate, ‘This fund offers a.s.r. an attractive opportunity to expand our investments into international real estate, and to further diversify within our portfolio. This investment is the first step. BlackRock is a prestigious asset management firm and an established player on the global real estate market, with funds with long-term real estate strategies and attractive results. Even more, the visions of both BlackRock and a.s.r. are well aligned in terms of sustainability and social responsible investing.’