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AMB Europe Fund Attracts $350M From Institutions

SAN FRANCISCO-AMB Property Corp. stokes the fund with 4.7 million sf of distribution facilities it had previously developed or acquired.

By Brian K. Miller | Updated on June 12, 2007

(Read more on the industrial market.)

SAN FRANCISCO-AMB Property Corp. has attracted $350 million (euros 263 million) from 20 institutions for its first investment fund focused on Europe. With 60% leverage, the fund has buying power of $1.1 billion (euro 820 million).

The locally based distribution REIT stoked the euro-denominated, open-end commingled fund with 4.7 million sf of distribution facilities (38 properties) valued at $585 million (euros 439 million) that it had previously developed or acquired. AMB’s current development pipeline in Europe includes an additional three million sf that is expected to be contributed to the fund upon stabilization.

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