Gramercy Europe has raised 鈧�260m from institutional investors for its third industrial real estate fund.
Gramercy Property Europe III will have up to 60% of leverage giving it 鈧�650m to invest.
The capital raising took just two months, the investment fund manager said.
Alistair Calvert, Gramercy Europe鈥檚 chief executive, said: 鈥淚 believe that being able to close an all-institutional equity fund in just two months is testament to both our clearly defined investment strategy and our successful track record of acquiring, managing and divesting industrial assets.鈥�
He said the new fund would be in a good position to benefit from the structural drivers underpinning occupier demand for logistics and light industrial assets.
鈥淥ur mandate closely echoes that of our previous funds but with a widened appetite for shorter leases and more involved asset management needs,鈥� he said.
In May, for around 鈧�1bn on behalf of AXA Insurance Companies and its CoRE Europe open-ended fund.
Gramercy Europe said its third fund focused on Continental Europe with a bias towards Germany, France, the Netherlands and Spain.
It will concentrate on transactions of between 鈧�10m and 鈧�200m, and aim for a stabilised weighted-average lease term (WALT) of more than five years across a portfolio of 30 to 40 industrial assets.
Gramercy Europe said the logistics and light industrial sector was still benefiting from strong occupational demand from retailers, manufacturers and third-party logistics operators.
There was a structural undersupply of these assets, it said, adding that this was particularly the case for units suitable for e-commerce use.
