Invesco's flush fund
The company recently announced the first closing of its Central European Real Property Fund II (CEII).
To date the fund has raised EUR115 (zł.448) million, which, with gearing, gives it investment potential of EUR300 (zł.1,171) million.
The fund will target Poland, Hungary, the Czech Republic and other new member states. It is also closely watching market trends in Russia. Its final size will be capped at EUR750 (zł.2,920) million.
Invesco will use the money to invest in core office, retail and logistics properties with a target income return of eight percent per annum after costs and tax. It will make its first acquisitions in the first quarter of this year.
According to Doris Schumacher, the CEII fund manager: "There is a great deal of interest in CEE property investment markets currently. Yields are still higher than in Western European markets but are coming down and prices are going up. We believe the CEII fund will be popular for those looking for larger lot sizes and seeking income return with the prospect of capital growth." L.M.
To date the fund has raised EUR115 (zł.448) million, which, with gearing, gives it investment potential of EUR300 (zł.1,171) million.
The fund will target Poland, Hungary, the Czech Republic and other new member states. It is also closely watching market trends in Russia. Its final size will be capped at EUR750 (zł.2,920) million.
Invesco will use the money to invest in core office, retail and logistics properties with a target income return of eight percent per annum after costs and tax. It will make its first acquisitions in the first quarter of this year.
According to Doris Schumacher, the CEII fund manager: "There is a great deal of interest in CEE property investment markets currently. Yields are still higher than in Western European markets but are coming down and prices are going up. We believe the CEII fund will be popular for those looking for larger lot sizes and seeking income return with the prospect of capital growth." L.M.
