Real I.S. raises EUR 378 mln for first special fund

Real I.S. Investment has successfully carried out the first closing of its BGV IV real estate special fund with capital commitments of around EUR 378 mln at end July. The diversified BGV IV real estate portfolio is the most recent in the series of Real I.S.'s institutional funds and is primarily invested in core real estate in the euro area.

'We are delighted that our very first special fund, offered under German investment law, has been so well received by investors,' commented Jochen Schenk, member of Real I.S. AG’s Board of Management. He added that the strong interest from institutional investors resulted in swift commitments for large tranches. The fund manager also offers a German retail fund and funds concentrated on Canada and Australia. 'We would like to offer our investors a complete range of products, in the institutional segment as well,' Schenk added.

Following the first closing Schenk expects to invest more than EUR 700 mln in the near future. 'We are currently preparing to purchase interesting properties, in the Netherlands for example,' he said.

To date, Real I.S. AG has invested more than EUR 1.5 bn through its funds on behalf of institutional investors of the BGV (Bayerische Grundvermögen) Series. Real I.S. is a member company of the Sparkassenfinanzgruppe (group of German savings banks, Landesbanken and associated companies) and the asset management company for commercial real estate of BayernLB.