21 November 2019 | 2 min.

a.s.r. invests over € 100 million in CBRE Pan European Core Fund

a.s.r. is investing over € 100 million in the CBRE Pan European Core Fund. After its earlier investment in the BlackRock Eurozone Core Property Fund, this represents a next step in the diversification of a.s.r.’s international real estate portfolio.

The CBRE Pan European Core Fund’s portfolio focuses on prime retail and office real estate as well as well-located logistics real estate, predominantly in the euro zone.

Over the past 125 years, a.s.r. has built up a sizeable non-listed portfolio in Dutch property. In order to diversify its real estate portfolio, a.s.r. is adding non-listed European real estate. This portfolio is managed by the Investment Partners team at a.s.r. real estate.

Dick Gort, ceo of a.s.r. real estate, explains: ‘The Investment Partners team of a.s.r. real estate invests in newly issued participations (primaries) as well as secondaries on behalf of a.s.r. Our strategy enables us to maintain our agility and ensures an efficient growth of a well-diversified international real estate portfolio in high-quality European real estate for our clients.’

Rodney Zimmerman, head of Investment Partners at a.s.r. real estate, says: ‘Within the spectrum of non-listed European funds, the CBRE Pan European Core Fund has an excellent reputation, with its well-diversified and high-quality European real estate portfolio. And similar to a.s.r., the Fund is also active in the field of sustainability. The GRESB score for the CBRE Pan European Core Fund improved in 2019 from 67 to 87 and achieved Green Star status.’

Richard Everett, Fund Manager, CBRE Pan European Core Fund commented: ‘To have a major Dutch insurance company like a.s.r. investing in the fund is testament to our fund management capabilities and our commitment to sustainability. We look forward to meeting a.s.r.’s investment objectives and we are very pleased to welcome them as investors to the fund.’