The special AIF »Four Metropolises« which is focused on German residential real estate developments in Berlin, Hamburg, Frankfurt and Munich was closed with a planned project development volume of 200 million euros. Shortly before the closing a municipal pension institution and an insurance company had invested another 15 million euros in the purely equity-based real estate fund.
Four real estate developments in the metropolitan regions of Berlin and Hamburg are currently being implemented by the institutional fund »Four Metropolises« of the PROJECT Investment Group: The objects Curtiusstraße 20-26 (Berlin Lichterfelde West), Heinrich-Heine Straße 74-76 (Berlin Mitte), Uhlandstraße 103 (Berlin Charlottenburg) and Aspelohe 27 (Norderstedt / Hamburg) comprise a total of 260 accommodation units. The project volume is currently around 115 million euros. »For our institutional investors, we have allocated about 50 percent of the fund's committed capital to these objects«, states Jürgen Uwira, Managing Director of the PROJECT Real Estate Trust GmbH specializing in institutional real estate investments. Due to the specific investment concept of defined risk spreading the special AIF will diversify the investor capital to a minimum of six objects at three locations in the four metropolitan regions of Berlin, Hamburg, Frankfurt and Munich. »We believe that the Four Metropolises Fund will invest the remaining capital in another three to four attractive real estate developments within the next six months, thus reaching a project volume of over 200 million euros«, says Uwira.
Successor fund in preparation
The characteristic PROJECT fund security architecture of pure equity base, risk allocation to multiple object developments in various metropolitan areas and focus on the construction of condominiums will also be implemented in the next institutional PROJECT special AIF. The sales start of the Four Metropolises successor fund is intended for mid-year.
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Press contact:
PROJECT Investment Group: Christian Blank, Head of Corporate Communication
Tel.: +49 951.91 790-339, E-Mail: presse@project-investment.de
