Austrian real estate company CA Immo International is planning to set up a new hotel fund called H1 Hotelfonds together with Austrian insurer UNIQA. The two companies will act as equal lead investors in the new fund, which will have a total volume of EUR 700 mln and a life of seven years. The fund will target investment opportunities in Central and Eastern Europe, Southeast Europe and the Commonwealth of Independent States, CA Immo said.

Austrian real estate company CA Immo International is planning to set up a new hotel fund called H1 Hotelfonds together with Austrian insurer UNIQA. The two companies will act as equal lead investors in the new fund, which will have a total volume of EUR 700 mln and a life of seven years. The fund will target investment opportunities in Central and Eastern Europe, Southeast Europe and the Commonwealth of Independent States, CA Immo said.

The company will make investments totalling EUR 1.5 bn in 2007, of which EUR 500 mln will be in developments projects of CA Immo’s New Europe fund. The fund, set up by CA Immo International for institutional investors, will focus on developments projects in Eastern Europe.