Briefs: Florida market report | New fund targets Europe

European fund targets COVID-hit hotels: Pygmalion Capital Advisers has held the first close for Pygmalion European Opportunistic Hotel Fund II (PEOH II), backed by a European Private Bank and a European Pension Fund. Capital coming into the Fund’s first close is already earmarked towards the acquisition of seed assets located in Italy, the UK and Ireland, that are under exclusivity. PEOH II is structured as a closed-end limited partnership domiciled in Luxembourg with a five- to seven-year life. PEOH II is targeting an unleveraged equity volume of over EUR400 million. The fund’s strategy is focused on opportunistic European real estate hotel…
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