09 January 2015 | 2 min.

Fifth successful equity raise for ASR Dutch Prime Retail Fund

a.s.r. real estate investment management, “a.s.r. reim”, has completed its fifth close for the ASR Dutch Prime Retail Fund (“the Fund”). An Asian institution has invested €250 million in the Dutch retail fund, bringing the total external equity raised since inception to over €785 million.

Dick Gort, CEO at a.s.r. reim, said:

“Having raised over €500 million in less than two years’ time from multiple European investors, we have now successfully implemented our strategy to further internationalise our investor base by attracting €250 million of equity from an Asian institution. We targeted this market as we recognised that the quality and diversification of the retail portfolio and the relatively strong income return would be an optimum fit to the investment criteria of our new client.”

Mark Evans, Head of Equity Placement, CBRE Capital Advisors, added:

“2014 was an extremely competitive environment for core/core plus fund raising. Therefore it was paramount that we were able to articulate to potential investors the attractive returns of the ASR Dutch Prime Retail Fund and the modern fund structure. We were also able to demonstrate the low volatility of income return generated by this diversified portfolio with index-linked rents. Furthermore, the Fund’s ongoing pipeline of acquisitions and asset management opportunities were key to this investor.”

a.s.r. reim was advised by placement agent CBRE Capital Advisors. De Brauw Blackstone Westbroek provided legal advice and PWC acted as tax adviser to the Fund.