US-based asset management company CBRE Global Investors has raised around $900 million for its CBRE Asia Value Partners V fund to invest in real estate in the Asia-Pacific region, according to media reports.
In a statement, CBRE Global Investors revealed that the fund has received commitments from various sovereign wealth funds, pension funds and investors from the Middle East, Europe, and North America.
The fund is a part of the CBRE Global Investor’s flagship pan Asia value-add investment program launched in 2009.
The fund will invest in real estate assets with an eye on the logistics assets as well in the Asia-Pacific region. It will also seek opportunities in other sectors that offer attractive returns.
The fund so far has invested around $190 million in Japan’s real estate market. By the end of the second quarter, CBRE Global Investors plans to invest around 40 percent of the fund in the Asia-Pacific region.
Adrian Baker, CBRE Global Investor’s chief executive and chief investment officer in Asia Pacific told the media, “The logistics sector in Asia-Pacific continues to be supported by solid consumption growth and technology adoption within the region, which in turn is generating an increased investment demand for the type of real estate AVP V is creating – high-quality logistics assets completed to high standards and modern specifications.”
CBRE Global Investors, which has been active in Asia-Pacific since 1995, so far has assets worth $11.9 billion under management.
The CBRE Asia Value Partners V fell short by about 10 percent from the $1 billion raised by its predecessor.
Recently, CBRE Global Investors and Universal-Investment acquired a 42,000-square-metre logistics property strategically located north of Kobe along the Chugoku Express Highway in Japan.
Both parties bought the asset on behalf of Bayerische Versorgungskammer (BVK), one of Germany’s largest institutional investors.