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Heitman Secures HESTA Investment For European Alternative Real Estate

KUALA LUMPUR, June 12 (Bernama) -- Heitman LLC (Heitman), a global real estate investment management firm, has announced an allocation from HESTA to invest in European alternative property types, including self-storage, student housing, residential, and health care.

Heitman in a statement said this investment establishes the company as one of HESTA’s largest international property investment managers.

“Unlike the traditional property types, the alternative sectors are driven by needs-based demand and are undersupplied, making them less tied to economic cycles.

“We believe this makes them an attractive way to benefit from the price reductions available in Europe whilst mitigating exposure to uncertain economic conditions,” said Heitman Managing Director, European Real Estate Investment, Caleb Mercer.

Meanwhile, HESTA Head of Portfolio Management, Jeff Brunton said: “The new allocation with Heitman will support us to continue to build a well-diversified portfolio of property investments designed to help deliver strong long-term returns for our more than one million members.”

With over one million members and approximately AUD$93 billion of funds under management, HESTA is one of Australia’s largest superannuation funds dedicated to health and community services. (AUD$1 = RM2.74)

HESTA is an existing investor with Heitman through its United States core investment strategy. HESTA’s new investment adds to Heitman’s footprint in Australia, with Heitman currently managing AUD$8.4 billion across real estate equity and debt strategies.

Founded in 1966 and globally headquartered in Chicago, with European headquarters in London, Heitman has 10 offices worldwide and is an active participant in the global real estate property and capital markets.

-- BERNAMA