Endurance Real Estate, a closed-end umbrella fund set up in 2005 by Orco Property Group, committed a total of EUR 275 mln of equity last year, up from EUR 200 mln in 2006.
Endurance Real Estate, a closed-end umbrella fund set up in 2005 by Orco Property Group, committed a total of EUR 275 mln of equity last year, up from EUR 200 mln in 2006.
Endurance comprises six established sub-funds and two new sub-funds launched in January 2008. A EUR 200 mln sub-fund was established at the beginning of 2008 to focus on logistics and light-medium manufacturing sites in Central and Eastern Europe, while the other new sub-fund, with an expected equity volume of EUR 150 mln, will invest in the German healthcare sector.
Endurance's Office I, a sub-fund targeting office properties in Central Europe, reached closing with EUR 150 mln equity in 2006. It was fully invested last year with a portfolio value of EUR 450 mln.
In December, Endurance closed its first residential sub fund with EUR 220 mln in equity, with a final commitment of EUR 75 mln from Dutch pension fund ABP. It also launched a new Office II sub-fund with a first commitment of EUR 50 mln from TKP Pensioen.
Central European property group Orco is the asset manager and co-investor in each of the funds, and has committed between 5%-20% of the equity to each sub-fund.
