Michael Gutman, chief executive of the Lowy-family backed Assembly Funds Management, said both the residential and industrial sectors remained attractive to the real estate investor, after it closed out its $500 million diversified property fund with an oversubscribed equity raising.

The fund, which launched in 2019 with a $75 million cornerstone investment from the founders of Westfield and Scentre Group, raised $67 million in its final round from high net worth investors and family offices taking total equity raised to $350 million.