MGPA in first close on €500m Asian property fund

MGPA has held a first close on an Asia property fund specifically targeting German institutional investors. The real estate private equity firm’s MGPA Asien Spezialfonds has so far received a total of €85 million ($109 million) from three German institutions. A second close for the fund is expected by year-end, according to John Saunders, Asia chief executive of MGPA. The vehicle has a target size of €500 million. The eurozone woes have had a positive effect on fundraising, sa…