JER Partners Closes $1.1B Euro RE Fund

JER Partners, the McLean, Va.-based global real estate investment arm of the J.E. Robert Cos., has announced the final closing of JER Europe Fund III, which raised €809 million ($1.1 billion).The fund will focus on property investment opportunities in all sectors throughout Europe, and the company said it is expected to have total buying power (taking leverage into account) of up to €4 billion ($5.4 billion). "Our intention is to be at the forefront of real estate investing, and we will continue to expand our initiatives and activities into new territories and new product classes," said Joseph E. Robert, chairman and chief executive officer of J.E. Robert. "With real estate investment platforms in North America, Europe, Russia, and soon also in Latin America, I believe JER is well positioned to capitalize on real estate opportunities wherever they present themselves." JER Partners can be found online at http://www.jer.com.