Apollo Real Estate Advisors has closed its third dedicated European fund, the Apollo European Real Estate Fund III, with a total of approximately $1.4 billion of committed capital. The fund is comprised of $600 million and 535 million euros.
The international real estate investor and fund manager anticipates investing 30% to 40% of the fund in the UK; 30% to 40% in Western Europe, including France, Germany, Switzerland, Italy and Spain, and approximately 25% in Central and Eastern Europe.
The fund has already completed several transactions. For instance, the fund acquired the Merter shopping center site in Istanbul, Turkey for $380 million with joint-venture partner Multi Turkmall. The partnership also has committed $470 million to the retail project’s
Apollo’s investors consist of some large institutional investors, including public and private sector pension funds, major insurance companies,