CBRE Investment Management has announced the final close of its latest Asia-Pacific value-add real estate fund at over $2.1 billion, above its target.
The fund, Asia Value Partners 7 (AVP 7), secured $1.865 billion in equity commitments, above its $1.5-billion fundraising goal, according to the company. It also raised an additional $250 million in co-investment capital, bringing total equity raised to $2.115 billion.
CBRE IM said the fund is expected to have more than $5 billion in purchasing power over a 36-month investment period.
CBRE Asia Value Partners 7 is the successor to the fund manager’s sixth Asia value-add fund, which closed at $1.74 billion in 2021. The strategy remains centred on logistics assets, with most of the capital in earlier vintages deployed across Asia-Pacific markets, including Japan, China, and South Korea.
The vehicle will focus primarily on value-add opportunities in Asia-Pacific’s most developed and liquid markets, with at least 80% of equity commitments earmarked for logistics assets.
According to the announcement, the fund will pursue build-to-core and reposition-to-core strategies while also retaining the flexibility to selectively invest in other sectors supported by favorable structural trends or pricing dislocations.
“The APAC region continues to offer compelling opportunities for value creation,” Adrian Baker, president and chief investment officer of APAC Direct Real Estate and portfolio manager for the fund series, said in a statement.
He said the manager was targeting Japan in particular, focusing on well-located standing assets trading below replacement cost and using its operating expertise to develop and reposition logistics facilities in areas with strong demand.
AVP 7 has already completed three investments and has an advanced pipeline that is expected to support active capital deployment through 2026, per the announcement.
Among the investors in the fund is the Employees Retirement System of Texas, which committed $100 million last year. It was part of the $482.8 million that ERS of Texas committed in April-May 2025 across private real estate, private infrastructure, and private equity strategies.
CBRE IM, formerly CBRE Global Investors, underwent a leadership change in April last year as former GIC executive Adam Gallistel stepped into the role of co-CEO and CIO.
In 2023, CBRE IM bought a portfolio of assets in Japan, South Korea, and Australia from Singapore-listed Mapletree Logistics Trust for S$913.6 million ($687 million).
Since 2016, CBRE IM’s APAC Direct Real Estate team has completed 139 logistics investments across the region, covering 9.5 million square meters and representing a cumulative asset value of $14.7 billion.
As of Dec 31, 2025, CBRE Investment Management managed $155.5 billion in assets globally, per the announcement.
