The challenge ASR REIM aims to attract more international investorst for the ASR Dutch Prime Retail Fund. In 2012 and 2013 CBRE placed a total of approximately € 550 mn. from Dutch and European investors. This time, CBRE is asked to go to the Asian market to attract a like-minded investor.
The approach The ASR Dutch Prime Retail Fund has a volume of approximately € 1.2 bn. and invests in high-quality Dutch retail property. The manager, the fund and the Dutch retail market is not very wellknown in the Asian market yet and need a more detailed introduction. Therefore, the marketing materials focus on the quality of the manager. In addition, a short film about the fund provides information about the Dutch retail market and highlights the quality of the assets in the fund.
The execution An exploration of the Asian region proves that Japanese institutional investors are the most interesting target group. The fund fits with this group because of its risk-/ return-profile and focus on core assets.
During the process the team took care of:
A roadshow in Tokyo, visiting sixteen investors
Follow-up contacts with interested investors, amongst others:
Demonstrating its relative performance to other pan-European funds
Coordinating asset tours and manager Due Diligence processes in the Netherlands
Intensive contact with our team in Tokyo during the entire process
The result In December 2014, CBRE achieved a milestone by securing the largest single equity investment into an unlisted European fund ever recorded from a Japanese investor. The placement of €250m brings the total raised capital by CBRE for this fund to more than €800m.