JER Partners raises over €800m for JER Europe Fund III (US/EUR)

JER Partners, the global real estate investment arm of the J.E. Robert Companies, has completed the final closing of JER Europe Fund III, having raised €809 million. The Fund will focus on property investment opportunities across all sectors throughout Europe, and together with leverage, is expected to have total buying power of up to €4 billion.

Malcolm Le May, President of JER Partners Europe, commented, "JER continues its strong growth and commitment in Europe. A fund of over €800 million with a current portfolio of thirteen projects is testimony to the success of our approach. A Europe-wide network of high quality operating partners and an outstanding team based primarily in London has allowed us to identify a steady stream of attractive, well-priced investment opportunities. We are delighted that so many investors – both existing investors in prior JER funds and new investors from Europe, North America, Asia and the Middle East – have chosen to back us."

With JER Europe Fund III, JER continues its proven investment strategy of identifying and investing in undervalued assets and further improving their value through intensive asset management.

To date, JER Europe Fund III has committed to 13 transactions with an all in cost of €786 million. The Fund's investments to date include:

  • Great Eastern Hotel: a 5-star hotel in the City of London (UK);
  • a site for residential development in Greenwich, London (UK);
  • residential, retail, office and mixed-use portfolios (Germany);
  • a prime residential apartment building in Paris (France);
  • a retail warehouse portfolio (Italy);
  • a hotel portfolio (Switzerland);
  • an office portfolio in Brussels (Belgium);
  • a stake in a house builder (UK);
  • a site for warehouse development in Istanbul (Turkey).

Joseph E. Robert, Chairman and CEO of the J.E. Robert Companies, said, "We are delighted that the firm has attracted over US $1 billion of capital for Europe from investors around the world. Our intention is to be at the forefront of real estate investing and we will continue to expand our initiatives and activities into new territories and new product classes. With real estate investment platforms in North America, Europe, Russia and soon also in Latin America, I believe JER is well-positioned to capitalize on real estate opportunities wherever they present themselves."

Source: HeadLand Consultancy

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