The Hahn Group's German retail fund raised some EUR 30 mln in equity from international subscribers in the first half of 2009, bringing total fund equity to around EUR 155 mln. This means that the fund has acquired over 50% of the target equity volume of some Euro 300 mln just nine months after the first closing, the Hahn Group said.
The Hahn Group's German retail fund raised some EUR 30 mln in equity from international subscribers in the first half of 2009, bringing total fund equity to around EUR 155 mln. This means that the fund has acquired over 50% of the target equity volume of some Euro 300 mln just nine months after the first closing, the Hahn Group said.
Managed by the Luxembourg-based Landesbank Baden-Württemberg subsidiary LRI Invest, the Hahn retail fund aims to achieve gross fund assets of around EUR 750 mln and has a target return of 8%. Some EUR 230 mln is currently invested in German large-scale retail properties. The new subscription commitments will provide the investment vehicle with about EUR 50 mln for further retail property investments.
The Hahn Group specialises in investments in large-scale retail properties and has around 1.3 million m² of retail space under management at about 150 locations as well as assets under management of more than EUR 2 bn.
