CBRE Global Investors has launched its own German fund management company (KVG) CBRE Global Investors Kapitalverwaltungsgesellschaft (KVG) having recently obtained the necessary approvals to manage alternative real estate investment funds under German law.
The license now enables the German business to launch its first club deal for German Investors. 'We have already attracted the interest of German investors and secured first investors for the fund. This is a good start and illustrates that we are bringing something to the German real estate market that investors want,' commented Chris Wood, managing director of CBRE Global Investors with responsibility for the fundraising with institutional investors in Germany.
CBRE GI said it plans 'to acquire office and retail properties in Germany’s top seven cities in locations that are expected to benefit from urbanisation and in properties with appreciation potential under a “manufacture-to-core” approach'.
'We will buy existing properties in urban locations and modernise these through revitalization and repositioning. In this way, we are able to generate attractive returns while building a long-term core portfolio,' added Marius Schöner, country manager of CBRE Global Investors Germany.
