CBRE Investment Management said Tuesday it had closed its latest Asia Pacific value-add real estate fund, Asia Value Partners 7 (AVP 7), with equity commitments of $1.865 billion, exceeding its $1.5-billion fundraising target. An additional $250 million was secured in co-investment capital, taking total equity raised to $2.115 billion. The fund is expected to have total purchasing power of more than $5 billion to be deployed over a 36-month investment period.
“The APAC region continues to offer compelling opportunities for value creation,” said Adrian Baker, president and CIO of APAC Direct Real Estate and portfolio manager for the fund series. “We are unlocking value in Japan in particular, targeting well‑located standing assets below replacement cost and applying our operating expertise to develop and reposition high‑demand logistics facilities.”
Consistent with its predecessors, AVP 7 will pursue build- and reposition-to-core opportunities within the most developed and liquid markets of Asia Pacific. Logistics investments will continue to be the central focus of the fund’s strategy. The fund has already secured three investments to date.
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