Cording Real Estate Group and Warburg-HIH Invest Real Estate have launched a Benelux real estate fund on behalf of Heleba Invest and SV SparkassenVersicherung.
The open-ended Benelux Commercial Real Estate Fund will invest in office and retail property in the Netherlands, Belgium and Luxembourg.
The fund has €300m of capital to invest, including €300m in equity, over the next two years.
Cording and Warburg HIH said they will concentrate on assets between €10m and €40m, with “diversified cash flows” in “A locations” and “economically strong towns and cities”.
The fund, which has a 10-year life, is targeting a net distribution yield of 4%.
Cording will manage the assets, including leasing management.
Onno Scheij, head of Benelux at Cording, said the company was “well positioned” with a “local team, directly on site”, having recently expanded its regional team.
Andreas Schütz, senior fund manager at Warburg-HIH, said: “We have been active in the Netherlands market for many years and have also invested in the Belgian market.
“By launching the fund jointly with Cording, we are strengthening our commitment in the Benelux countries and can rely on an experienced partner with a very good local network.”