Portuguese venture capital fund manager Admar SCR has launched a new real estate investment fund, initially targeting €100 mln for investments.
Of this, 75% will be allocated to investment opportunities in the Portuguese market and the remaining 25% to investments abroad.
The Golden Estate FCR currently has 16 investors of various nationalities and sums invested ranging between €100,000 and €2.5 mln.
The fund will invest in companies that operate in the real estate sectors, including residential areas, logistics, offices and tourism, as well as in renewable energies and industry related to the real estate market and construction.
The fund is targeting yields of around 15%, with a maturity of 10 years.
João Cota Dias, director of Admar SCR, said: ‘This fund represents an important milestone in our growth and investment strategy and reinforces our commitment to boosting economic growth in Portugal and abroad, as well as giving foreign and domestic investors access to projects with high potential profitability.’
The launch of the Golden Estate FCR fund comes after the manager's first fund of €50 mln, called Admar FCR, was fully subscribed and successfully invested.
Among some assets already invested by the fund is the former Portuguese Football Federation building, where a 77-room hotel with a large commercial area and 60 parking spaces is being built.
Managed by João Cota Dias, Pedro Carvalho de Almeida and Lourenço Carvalho de Almeida, Estoril-based Admar SCR has a participation in more than 25 companies through the various funds it has under management.
