IVG is launching a new closed-end fund in the EuroSelect product series, EuroSelect 18. The fund has an investment volume of EUR 92 mln and will invest in office properties in Hamburg, Nuremberg and Munich.
IVG is launching a new closed-end fund in the EuroSelect product series, EuroSelect 18. The fund has an investment volume of EUR 92 mln and will invest in office properties in Hamburg, Nuremberg and Munich.
IVG forecasts an annual preferred payout of 6% for its investors up to the scheduled maturity date of end-December 2025.
The fund will acquire the properties at Nordostpark 3/5 and 7/9 in Nuremberg with effect from 30 June, while investment in the other properties is scheduled for 1 July 2010, provided, among other things, the properties have been completed.
IVG board member Georg Reul said: 'We are confident about the German property market and the capital increase potential which the properties in EuroSelect 18 offer. This is why we will remain invested in the properties. With their outstanding location, above-average fittings and broad diversification, the new and good-as-new office buildings meet all the requirements for successful sustained investment.'
