Listed housing landlord Industria Wohnen has announced plans to launch a new opened-ended special alternative invesment fund (AIF) for residential investments in German cities.
The fund, with a target volume of €500 mln, will focus on new build properties, purchased under forward deals in the development phase. The company said it was researching initial investments.
'The demand from institutional investors for residential property that combines a reliable income with the prospect of stability is persistently high,' commented Klaus Niewöhner-Pape, CEO of Industria Wohnen.
The company has already set up five open-ended special AIFs for institutional investors with equity commitments amounting to approximately €850 mln. The investment volume of those funds stands at around €1.1 bn.
'We have already purchased several new buildings as part of forward deals in the past and are valued as a reliable partner with a capacity for fast decision-making by project developers,' added Niewöhner-Pape.
