Global asset manager AEW has completed the final close of Residys, a fund targeting residential real estate assets in France, with a focus on the Paris region.
With the commitment of new institutional French and international investors, the fund’s total equity stands at €370 mln, increasing its total investment capacity to over €600 mln.
'The successful completion of this final close, including commitments from new international investors, reflects the strong appetite for this asset class,' said Stephane Sebban, fund manager of Residys at AEW.
'We have more than 20 years of experience of investing in French residential assets and Residys is our first fund dedicated to this asset class,' he added. 'Our focus will continue to be on sourcing high quality investment opportunities to complete the portfolio and ultimately to deliver attractive returns to our investors.'
Since its launch in 2017, the fund has completed 15 acquisitions, mainly across Paris, representing almost half of the fund’s total investment capacity.