ING Real Estate Investment Management raises €67 mln. for European Property Strategy (NL)

ING Real Estate Regulated Fund Management, part of ING Real Estate Investment Management Europe has successfully raised €67 million for the European Property Strategy NV (EPS). EPS is an open-ended core fund, investing in ING REIM Europe's platform of non-listed funds.

Following the strategy's initial closing in May with commitments totaling €100 million, it has attracted new mandates with the recent entrance of two new investors, increasing its initial commitment to €167 million.

Wim Wensing, Fund Manager EPS comments: "These new commitments prove that the European Property Strategy matches current investors' appetite for diversifying their real estate portfolios and the wish to invest in proven high quality European properties".

EPS currently holds four investments in ING REIM property funds. These investments give investors exposure to a €4.6 billion property portfolio diversified over nine European countries and three property sectors. EPS has scheduled two more investments for this year.

The European Property Strategy is an open-ended core strategy, investing in ING REIM Europe's 14 non-listed property funds, thereby creating direct exposure to all major European real estate markets. The strategy targets a stable dividend return.

One of the commitments was realized in cooperation with ING Investment Management Belgium.

Source: ING REIM

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