Invesco ties up with France's Ciloger for pooled property vehicle drive

Invesco Real Estate and French fund manager Ciloger have entered a partnership to launch a series of pooled real estate vehicles, called Organisme de Placement Collectif Immobilier (OPCI), to target French retail and institutional investors, writes Bert Erik ten Cate, editor of Estates Gazette’s sister title EuroProperty.  

Ciloger was the first fund manager in France to transform an existing fund into an OPCI and manages six such vehicles currently. 

“This is a key partnership for both companies and more importantly for French investors who will be able to access opportunities in real estate not only on a pan-European basis but also globally,” said Simon Redman, Head of Business Development at Invesco Real Estate.  

Invesco Real Estate will act as an adviser for sourcing property investment opportunities within the funds’ strategies, monitoring existing investments, asset management, debt strategies and structuring and providing investment advice with regard to the non-French real estate in Ciloger’s funds.  

The two companies will work closely on the distribution of these funds to both retail and institutional investors.  

The partnership starts with their existing OPCI fund, which is currently being marketed to investors. 

Invesco Real Estate will also be taking on the investment adviser role for the pan-European ex-France portion of Ciloger’s existing property funds (SCPI’s) and expects to make the first investments over the next couple of months.

                           EGi News