Property Investment Firm Heitman Sets New AP Fund
Chicago-based real estate investment firm Heitman LLC today announced its closure of Asia Pacific fund of USD338 million, named Asia-Pacific Property Investors, to invest in Asia Pacific property market.
“The closing of HAPI represents another significant milestone for the firm and we are grateful for the support of our clients and their contributions to the growth of our operations across the globe,” said Maury R. Tognarelli, Heitman CEO. “Our Asia-Pacific Private Equity team is well positioned to capitalize on the economic and investment market conditions and trends occuring in Asia-Pacific’s developed economies and property markets.”
The pan-Asia, closed-end fund will focus seeking assets in the region including Tokyo, Osaka, Sydney, Melbourne, Brisbane, Hong Kong, Singapore, and Seoul, the company said. The Fund has made initial commitments to investments in Tokyo, Melbourne, and Hong Kong.
Heitman made its first investment in the region in 2011 and since then it has transacted on more than USD3 billion of properties in the region, the company said.