Munich-based fund manager Real IS has launched a new open-ended fund, AIF BGV IX Europa, with an initial target volume of up to €1.5 bn.
The move continues the company’s Bayerische Grundvermögen (BGV) series of investment funds for institutional investors, Real IS said in a statement.
The fund will focus on office and logistics real estate, supplemented by residential buildings and retail properties centred on local daily-needs shopping with a focus on Germany, France and the Netherlands. BGV IX Europa will focus particularly on core and core-plus investments and will seek to distribute 2.75 to 3.0% per year as a 10-year average.
‘In recent months it has become increasingly clear that the demand for high-quality office properties in good locations has remained stable and even increased, despite the pandemic and people working from home. By launching BGV IX Europa, we are offering our investors the opportunity to invest in crisis-resistant and stable asset classes in the Eurozone,’ said Tobias Kotz, head of client relations & capital funding at Real IS.
