Heitman, a real estate investment management firm, has closed its Asia-Pacific fund at $338 million, beating its $250 million target. So far, Heitman Asia-Pacific Property Investors has made commitments to investments in Tokyo, Melbourne and Hong Kong.
Hong Kong, July 26, 2018 – Heitman LLC (“Heitman”), a global real estate investment management firm, today announced the final close of Heitman Asia-Pacific Property Investors (“HAPI”), a closed-end, value-added fund, with aggregate commitments surpassing the fund’s target of US $250 million totaling US $338 million.
“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 seek assets where there are opportunities to create or enhance value through asset repositioning, expansion, or redevelopment. The Fund has made initial commitments to investments in Tokyo, Melbourne, and Hong Kong and will focus the remainder of the capital on the most developed and liquid markets in the region including Tokyo, Osaka, Sydney, Melbourne, Brisbane, Hong Kong, Singapore, and Seoul. Within these markets, the Fund will invest across select traditional property types including retail, logistics, residential, and office, complemented by investments in the specialty sector including self-storage, student accommodation, and medical office.
“HAPI’s investment strategy was developed over several years and will benefit from the extensive investment experience of the firm and Asia Pacific Private Equity investment team in the region,” said Skip Schwartz, Heitman managing director of Asia-Pacific Private Equity and HAPI portfolio manager. “Our team is well positioned to assemble a diversified portfolio of real estate assets in the dominant urban economies of Asia-Pacific’s deepest and most transparent markets that meet or exceed our clients expectations.”
Heitman’s Asia-Pacific presence has grown rapidly since the firm first began exploring private equity investment opportunities in the region in 2008. Heitman made its first investment in the region in 2011 and since that time has transacted on more than US $3 billion of real estate in Asia-Pacific.
Founded in 1966, Heitman LLC is a global real estate investment management firm with approximately $40 billion in assets under management. Heitman’s real estate investment strategies include direct investments in the equity or debt capitalization of a property or in the securities of listed and publicly traded real estate companies. Heitman serves a global client base with clients from North American, European, Middle Eastern and Asia-Pacific institutions, pension plans, foundations and corporations and individual investors. Headquartered in Chicago, with offices in Los Angeles, London, Luxembourg, Frankfurt, Munich, Warsaw, Hong Kong, Seoul, Tokyo, and Melbourne, Heitman’s more than 325 employees offer specialized expertise – from a specific discipline to local insight.