MGPA reaches first close on real estate fund
The latest fund being raised by MGPA marks a departure from the investment firm’s previous real estate vehicles. MGPA Asien Spezialfonds, which announced a first close on EUR85 million ($111 million) last week, represents the firm’s first so-called yield-focused core-plus product for Asia, and is a contrast to opportunity-focused vehicles MGPA Asia Funds I, II and III.
Whereas MGPA's first three funds have concentrated on acquiring assets requiring heavy refurbishment and development - often including buildings which are unlet or have very low occupancy, which they then...
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