De Brauw has assisted ASR Real Estate Investment Management (ASR REIM) with the set-up of ASR Dutch Prime Retail Fund as well as the subsequent transfer of ASR retail real estate to the Fund.

Following the set-up, De Brauw was involved in the entire process of admitting the three institutional investors to the Fund; advising on the structure, the negotiations between the three investors and the management of the fund and drafting the Private Placement Memorandum and the amended and restated fund agreement.

On 21 December 2011 three institutional investors from across Europe were admitted to the ASR Dutch Prime Retail Fund. ASR Real Estate Investment Management (ASR REIM), the real estate investment division of the Dutch insurance company ASR, has completed the first closing of the ASR Dutch Prime Retail Fund, with subscribed capital of EUR 380 million. ASR REIM launched the Fund (with a portfolio valued at approximately EUR 1.1 billion) in July 2011, and completed the oversubscribed capital raise in just five months time.

Team: Bernard Spoor, Annemieke Wessels, Maarten Tinnemans, Max van Drunen (Real Estate)