Hines starts deploying €1.5B European value-add fund with Stockholm deal
What's the deal? HinesDealroom has a profile for this one. Try Dealroom → has made the first investment from Hines European Real Estate Partners IVDealroom has a profile for this one. Try Dealroom → (HEREP IV), its fourth European value-add fund, buying a multifamily development platform in Stockholm, according to CoStarDealroom has a profile for this one. Try Dealroom →. The fund is targeting a total size of €1.5 billion.
The details: HEREP IV held a first close that raised more than €500 million in equity commitments — roughly a third of its target. One account describes it as the joint fourth-largest European fund currently in market.
Why now? The Stockholm acquisition moves the vehicle from fundraising into capital deployment. It marks the first transaction after the fund's first close.
What's the endgame? The strategy is pan-European value-add, focused on identifying mispriced opportunities across the region. Hines, a global real assets investment manager, runs the vehicle through Hines Interest LPDealroom has a profile for this one. Try Dealroom →, led by figures including co-CEO Laura Hines-Pierce and global chief investment officer David Steinbach.
The signal: A major manager putting money to work on a value-add thesis signals conviction that European real estate mispricing is now a buying opportunity rather than a risk to wait out.
Read more: alpha-maven.com
Image credit: visulogik
