Azora closes third value-add fund at €2.05B, targets €4.5B real estate investments

Azora has closed its third value-added real estate fund with €2.05 billion in commitments, aiming to deploy up to €4.5 billion including leverage. The fund targets Southern European markets (Spain, Italy, Portugal, Greece), signaling continued investor appetite for value-add real estate in the region. The scale and focus suggest confidence in Southern European property fundamentals, though deployment risks remain.