Garbe Institutional Capital has acquired three real estate developments in Germany for its European residential fund.

The investment and asset management arm of real estate firm Garbe said it has invested €110m to buy properties on behalf of the GARBE European Residential Fund (GARBE EUResi).

The Garbe fund has bought 104 flats in Berlin from Industria Wohnen, 144 flats in Weimar from Industria Wohnen and 42 flats at An der Friedenskirche in Flensburg from Bauplan Nord.

Michiel Dubois, managing director of Garbe Institutional Capital, said: “We secured attractive core properties for our pan-European residential real estate strategy through three transactions.

“We focus on well-integrated urban locations which are characterised by appropriate social infrastructure, local suppliers and connections to public transport.”

GARBE EUResi, which was launched with capital management firm Intreal has already received equity commitments of over €100m, the manager said, adding that the target equity volume for the strategy is €400m to €500m.

The fund invests in Germany, the Netherlands, France, Spain, UK as well as the capital cities of the Czech Republic and Poland.

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