TH Real Estate has launched its flagship European Cities Fund aimed at tapping into the long-term growth potential of income-producing properties in 'future proof cities'.
Head of global business development Austin Mitchell said TH Real Estate is focused on delivering products that could capitalise on 'tomorrow's world' and demonstrate alignment with client interests via co-investment capital.
The fund started with €200 million ($296 million) co-investment capital that will be invested along with a number of founder investors currently in due diligence and has target equity of €3-5 billion ($4.5-7.4 billion) over a five year period.
"By combining our innovative approach, our global perspective and our dedicated local expertise in real estate, we are excited to launch what we hope will be the first fund in a long-term, global product series," Mitchell said.
Over 200 European cities were assessed based on three major factors; quality of life and technology, urbanisation and youth population, and discretionary spending which resulted in 42 cities being identified as best placed to benefit from long-term demand for real estate.
European Cities fund manager Andrew Rich said extensive research based on megatrend filters identified a list of European Cities for investment and created a unique product that will benefit our investor's long-term goals.
"Our dedicated local team has longstanding relationships with owners, brokers, local developers, property management firms, and lenders. This pipeline of stock combined with our extensive local experience and strong track record for origination and delivery, demonstrate the expertise and access we can offer clients," said Rich.
The fund's targeted strategy will centre on investments best positioned for long-term growth such as retail, office and logistics taking advantage of the economic drivers that will build a disciplined and diversified portfolio.
With an 8-14% per annum return objective over the long term, the Pengana PanAgora Absolute Return Global Equities Fund is clearly managed by a team with investment acumen and a well thought out process.
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