Real I.S. has closed the third consecutive fund within the BGV-series for institutional investors after reaching the target volume of EUR 300 mln in capital recently. In total, 27 institutional investors including insurance companies, pension funds, savings banks and trusts have invested in BGV III. The focus of the fund is on core real estate, both offices and retail premises, primarily within the eurozone. Real I.S. aims for an after-tax distribution of 5% per annum until the end of the fund lifespan in 2019.
Real I.S. has closed the third consecutive fund within the BGV-series for institutional investors after reaching the target volume of EUR 300 mln in capital recently. In total, 27 institutional investors including insurance companies, pension funds, savings banks and trusts have invested in BGV III. The focus of the fund is on core real estate, both offices and retail premises, primarily within the eurozone. Real I.S. aims for an after-tax distribution of 5% per annum until the end of the fund lifespan in 2019.
The German firm said 90% of the capital volume was already placed in 11 core investments located in eight countries, including the Netherlands, UK, Germany and Australia. 'With the appropriate available liquidity, we were able to take advantage of the decline in real estate prices when purchasing properties nationally and internationally in the second half of the year 2008,' commented board member Jochen Schenk. The successor product, BGV IV will be launched shortly.
Part of the Sparkassen-Finance Group, Real I.S. is the asset manager for commercial property held by BayernLB bank. Since 1991, Real I.S. has offered more than 100 fund products with a total investment volume of EUR 6 bn to institutional and private investors.
