Omega Immobilien has launched a €50m daycare property fund with a pension fund for German dentists association.
The Cologne-based fund manager said it created Omega Kita-Welten Rheinland with Versorgungswerk der Zahnärztekammer Nordrhein (VZN) as sole investor.
Omega Kita-Welten Rheinland will be investing in the Rhineland. The Rhineland, which includes the Middle and Lower Rhine area, is one of Germany’s most densely populated regions.
The fund’s strategy focuses on ongoing and recently completed projects with experienced nursery providers and also takes into account purchasing existing daycare centres and daycare portfolios.
Achim Gräfen. a member of the executive board for funds at Omega, said: “We designed the closed-ended special AIF “OMEGA Kita-Welten Rheinland” in conjunction with the VZN corporation under public law as sole investor.
“It earmarks an investment volume of around €55m and promises high investment security.”
The leases have a long term of 20 to 30 years and are secured by statutory local benefit obligations.
Uwe Zeidler, a managing director of the VZN in Dusseldorf, said: “With this fund, we are actively tackling the supply crisis in nursery care.
“By supporting public and non-profit providers, providing them with new nurseries and helping them run sustainably, we are also meeting our social and educational responsibilities in our home region.”
Martin Herkenrath, executive director of the Omega group, said: “This product allows us to tap into another market niche – as we did with our predecessor fund HMG Grundwerte Rheinland – where we have the necessary market transparency and access to products.”
