German asset manager DIC Asset said on Wednesday that it has launched its seventh open-ended special alternative investment fund (AIF).
The target investment volume is €350-400 mln.
The new fund, named DIC Office Balance V, seeks to invest in commercial real estate in German metropolitan regions. The start-up portfolio, with a total value of €130 mln, consists of two buildings in Munich and Hamburg. The fund is targeting an annual return of 4% to 4.5%.
Sonja Wärntges, chief executive officer of DIC Asset, commented: ‘Demand for office real estate remains very high in cities like Hamburg and Munich. The high-end start-up portfolio of two assets, which we secured for the fund as early as 2017, permits us to ensure stable rental demand and continuous rent revenues for our investors.’
