Faedra Group, a real estate development company based in Budapest, has raised €17 mln for the logistics-industrial sector to be deployed over the coming years.
Faedra Group said it had hit the maximum issuance amount as it accepted all subscription offers for Faedra II Real Estate Development Fund.
Concorde Securities advised on the capital raising and distribution effort.
Bence Boronkay, founder and CEO of Faedra Group, said: ‘This successful capital raising confirms the trust investors have in Faedra, which is based on competence, delivering previous yield promises, and outstanding yield potential. It also enables Faedra to strengthen its logistics branch, continue successful industrial-logistics development projects from recent years, and exploit identified opportunities in this asset class.’
Faedra Group is a privately-owned Hungarian real estate development group involved in both industrial-logistics and residential developments.
In the past it has developed and sold industrial-logistics projects such as the Faedra Park in Szigetszentmiklós and Faedra22 Park in Budapest, which reached full tenant occupancy.
The company aims to continue developments in its existing asset classes and is exploring entry into other areas.
The group also has its own contracting division.
