German asset manager Quantum Immobilien Kapitalanlagegesellschaft has carried out the first closing for its new residential property fund, which is targeting a volume of around €500 mln.
The Habitare II vehicle raised an initial €150 mln of equity commitments for German institutional investors which, with leverage of 50%, will give the fund a spending power of around €300 mln.
Habitare II will seek to invest in a diversified residential portfolio in selected, fast-growing metropolitan regions in Germany.
The fund is the successor to Habitare, which was launched in 2005 as Quantum's first real estate special fund and is currently fully invested with a volume of around €1 bn.
