International fund manager Schroders Property is working on the launch new property funds, Buddy Roes, head of logistics fund management, told PropertyEU at Expo Real. Roes said that logistics is back on the radar of many institutional investors, given its solid returns and low volatility relative to other property sectors.
Schroders is open for investment for a second pan-European fund. The target for the new fund is EUR 700 mln in gross asset volume. ‘We are working towards a first close of EUR 150 mln from three to four investors by year-end or the first quarter of 2012,’ Roes said. The existing logistics Funds I has reached a gross asset volume of EUR 600 mln.
Separately, Schroders is seeking to raise a German residential property fund. Philipp Ellebracht, head of product development at Schroders Property, said the idea is to seed a new fund with an existing EUR 70 mln portfolio. The strategy would be to focus on residential property in medium-sized German cities to grow the fund to EUR 600 mln of gross investment. ‘I would not say that residential in the big five German cities is becoming overpriced,’ Ellebracht said. ‘But it is getting 'dangerous' as there is extraordinary demand from investors for German residential property.
Schroders has EUR 10.6 bn of property assets under management.
PropertyEU filed 70 news stories, published three Daily News magazines and conducted 15 PropertyTV interviews from Expo Real. Click on the link below for the full overview. | 
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