Quinlan Private has announced this week that it has raised Eu400m ($615m) from US investors for a new fund focused on strategic property investments in Europe.
In addition, UK and Irish investors are pumping in Eu325m giving the fund a capacity of Eu2.5bn.
The move demonstrates the ongoing appetite among investors for property investments in spite of the credit crunch and meltdown in commercial property values.
So far the European Strategic Real Estate Fund has invested about half of its capacity. Investments include retail developments in Bulgaria and Slovakia, office developments in the Netherlands, Poland and Slovakia and hotel and leisure in the UK and across the Central and East European region.
The hotel investment is principally Jurys Inn and further investments in this brand are expected from the fund, especially in Eastern Europe. It is indicating that up to 50 hotels will be added in this part of Europe.
In the CEE region, Quinlan partners with US investment fund and developer Golub & Co via JV Quinlan Private Golub.
Olan Cremin, Quinlan Private Partner and CEO, said in a statement: "We have a strong pipeline of investment opportunities. We expect that the Fund will be fully invested during 2008.
"Our ability to deploy capital quickly and effectively demonstrates the quality of our transaction teams and their ability to identify attractive opportunities in varying market conditions."
The current fund raising exceeding Quinlan's initial objectives, the company said in the same statement. Total assets under management at Quinlan Private now amount to Eu11bn including hotels, shopping centres, offices, and residential.