IMMO Capital, the European firm targeting single family residences (SFR) to rent, is in talks with multiple investors over further mandates as its increases acquisition firepower.
The company recently said publicly that it had attracted a combined $2.5 bn (€2.37 bn) of mandates from institutions to aggregate SFR assets and provide light touch refurbishments before renting them out.
But in an interview with PropertyEU to be published in June as part of a residential focus, the tech-driven company explains it has a €500 mln mandate to invest in Germany separate to a €1 bn mandate from a different investor.
It is also in talks over a further €300 mln for Germany. Furthermore, it has commitments for investing in the Netherlands and France, with investors also keen for Immo to expand not only across Europe, but to the Asia Pacific region.
Spain is the company’s second market where it now has an office to add to the UK and Germany, hinting at where yet more equity is headed.
Institutional interest in buying existing SFR for rent comes in contrast to the Build to Rent (BTR) sector, where inflationary construction costs are suddenly weighing more heavily.
Earlier this year, Immo announced the largest Series B funding round by a proptech company in Europe.
