08 April 2014 | 2 min.

Fourth successful money raise for a.s.r. reim

a.s.r. real estate investment management, “a.s.r. reim”, has completed its fourth close for the ASR Dutch Prime Retail Fund (“the Fund”).  Aviva Investors Global Real Estate Multi-Manager (“AI Global REMM”) has committed over €25 million, bringing the total equity raised since December 2011 to over €530 million.

John Gellatly, AI Global REMM said: “We are very pleased to be committing client capital to this fund which provides a diversified, core exposure to the prime retail sector across the Netherlands – and at a time when the Dutch retail environment is perceived to be starting to recover. As such, we are also pleased to be joining with a strong manager and investing alongside other major institutional investors.”

Bas Tiemstra, Fund Manager and Managing Director, Commercial Real Estate at a.s.r. reim said: "We are very pleased to welcome another leading institutional investor. This is a great compliment to the performance of the Fund and testament to its strong track record and ability to secure commitment from “best in class” investors.

Mark Evans, Head of Equity Placement, CBRE Capital Advisors, added: “This is a fantastic endorsement by the multi manager community and highlights the broad appeal of the Fund to different types of institutional investors. The latest investment is a consequence of a.s.r. reim’s continued ability to achieve its strategic objectives and deliver on an exciting and compelling business plan to grow the Fund.”

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.