Ashington targets $240m for Australia fund

The Australian development firm is raising its third institutional opportunity fund targeting the east coast of Australia. It is expected to close on A$200m towards the end of the year.

Australian real estate development firm and fund manager, Ashington Capital, is targeting A$200 million ($164 million; €115 million) for its third opportunistic real estate vehicle.

Ashington is expected to close the Ashington Development Fund III by the end of November, according to a statement from Jones Lang LaSalle.

This is the first time Ashington has sought equity commitments outside Australia.

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