European real estate fund manager Cordea Savills said on Wednesday that it plans to launch a EUR 1bn Turkish opportunity fund. The Cordea Savills Turkish Property Ventures Fund will be a Luxembourg FCP vehicle with a planned life of five years. The fund will seek returns of 20% per annum and a target equity of EUR 400mln, with leverage of 60% loan-to-cost.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
