Private equity company Peakside Capital Advisors has raised €160 million in equity from institutional investors and family offices across Europe for the first close of the Peakside Real Estate Fund IV (PREF IV). The fund will focus on investment in German real estate impacted by pricing dislocations and opportunities with value-add potential.
Although Peakside has previously invested in mixed-use projects which included a hospitality element, the company’s focus lies more in residential, office and logistics. The company may now look again at hotel properties, but with a look to conversion.
Boris Schran, Managing Partner at Peakside, says: “In the current environment, we are specifically looking at investments in the logistics and residential sectors. At the same time, we are expecting several opportunities coming out of market distortions in the wake of the COVID-19 pandemic, particularly in the retail and hotel sectors, and specifically for assets which lend themselves to conversion into office or residential use. Failed auctions or project developments with additional (re-)financing needs also offer attractive opportunities. Despite the increase of people working from home, we still believe in office as an asset class. Our pipeline is broad and filled accordingly.”