Hamburg-based real estate fund manager Wölbern Invest has launched its first special fund (Spezialfonds) for institutional investors targeting sustainable office properties in major west European cities.
Hamburg-based real estate fund manager Wölbern Invest has launched its first special fund (Spezialfonds) for institutional investors targeting sustainable office properties in major west European cities.
The Wölbern Green European Portfolio will invest in core office assets in the seven biggest German office markets as well as in the Randstad western urban agglomeration in the Netherlands, Vienna and Paris. The fund will invest solely in certified Green Buildings and have a life term of 10 years, with an option to extend this by two years. It will target a fund volume of EUR 300 mln, split equally between debt and equity, and an annual dividend of 5.5% at an IRR of 5%.
Wölbern Invest is the closed-end fund management business of the Wölbern Group, a provider of real estate and private equity funds. The group has 93 funds with total equity of EUR 1.8 bn and invested assets of EUR 3.5 bn in Germany.
