F&C REIT Germany, based in Munich, has announced the first closing of its Best Value Germany 1 fund on 30 November 2010 with an initial commitment of EUR 120 mln. The fund has a target investment volume of EUR 300 mln and will invest in prime properties in medium-sized and large German cities, with a focus on retail properties and the supplementary inclusion of office properties.
F&C REIT Germany, based in Munich, has announced the first closing of its Best Value Germany 1 fund on 30 November 2010 with an initial commitment of EUR 120 mln. The fund has a target investment volume of EUR 300 mln and will invest in prime properties in medium-sized and large German cities, with a focus on retail properties and the supplementary inclusion of office properties.
Initial acquisitions for the fund are targeted for December 2010/ January 2011. The F&C REIT Germany Investment Team is continuously screening the market for attractive investments and is confident that the fund will be fully invested well in advance of the maximum investment period of three years.
The stability of prime locations in medium-sized and large German cities, in conjunction with the higher returns (as compared to the Big 7 real estate locations: Munich, Frankfurt am Main, Hamburg, Stuttgart, Düsseldorf, Berlin and Cologne), make this kind of investment extremely interesting to German institutional investors, the company said in a press release.
