Real IS has achieved the fund-raising target for its latest real estates special alternative investment fund (AIF) and now plans to set up a new fund.
BGV VII Europa has raised around €600m within an estimated 18-month period, the fund manager said.
Jochen Schenk, a member of Real IS management board, said: “The closing of BGV VII Europa within such a short space of time is clear evidence of the huge interest of investors in fund products allocated on a pan-European basis.
“Investors generally appreciate a swift capital call, which we have succeeded in doing here.”
Schenk said the fund is currently investing in eight properties of various usage types in several countries.
“Another four investments are already at the preparation stage. Investors are thus already benefiting from a highly diversified portfolio.”
A successor fund is already at the planning stage, Real IS said.
Similar to BGV VII Europa, the successor fund will also feature broad diversification by country and usage type.
Investments are therefore exclusively planned in eurozone countries and will concentrate on logistics and hotels, alongside the office and retail sectors.
The fund will focus on Germany and France, supplemented by the Benelux countries, Spain and Ireland.
The investment strategy of the real estate special AIF is geared to core and core plus investments and, if appropriate, complemented by properties with a manage-to- core strategy, the company said.