German closed-end fund manager Habona Invest has been given the green-light to launch Habona Deutsche Einzelhandelsimmobilienfonds 06, its sixth fund focusing on food retail properties.
The alternative investment fund (AIF), which is regulated by KAGB, invests in new and nearly-new food retail real estate assets, leased on a long-term basis to strong tenants.
Habona plans to raise at least €50 mln from German private investors via the fund and is forecasting a return of 5% per annum before tax over the fund's 5-year lifetime.
Including borrowed capital, the target volume of the fund is €110 mln, to be invested across approximately 25 assets.
As with all Habona AIFs, Hansainvest will act as the external capital management company, overseeing the fund's portfolio management and risk management.
German private bank Hauck & Aufhäuser Privatbankiers is the depositary of the fund.
Habona's predecessor fund was closed in June with a record placement volume of €84 mln.
