Blackrock Raises €774M for 6th European Real Estate Fund

Alternative investment manager BlackRock has raised €774 million for the first close of its sixth European property fund.

The firm amassed €1.5 billion for its fifth fund in the strategy in 2020. The firm has not yet revealed a target for the fund.

Fund VI will invest in Europe’s most liquid markets, with a focus on the United Kingdom, France, Germany, the Nordics, and Spain, seeking high-quality assets that are aligned with the structural “mega forces” driving the economy and future occupier demand, such as demographic shifts, digital disruption, and the transition to a low-carbon economy and a net zero built environment.

The firm noted that specific investment sectors include student housing and new residential units, as well as supply business-critical logistics and data centers in under-supplied markets.

“The European Value-Add series is a vital component of our $28 billion global private equity real estate business,” said Anne Valentine Andrews, global head of real estate and infrastructure at BlackRock.“Despite continued market uncertainty, the window of opportunity is opening for real estate investors.”