German fund manager ZBI has closed its residential fund ZBI Professional 9 with a total equity volume of €112 mln.
German fund manager ZBI has closed its residential fund ZBI Professional 9 with a total equity volume of €112 mln.
The fund holds a portfolio of 1,297 assets in high-growth regions of Germany, the majority of them in Berlin as well as others in cities such as Rostock, Wuppertal and Dresden. The fund is expected to pay out dividends of 4% from 2016, rising to 5% per annum in subsequent years.
‘The high equity volume of the fund is proof of the confidence of our investors and the successful model of our professional fund series,’ said Dr Bernd Ital, chairman of the board at ZBI AG. ‘The German residential market is continuing to profit from low interest rates and a lack of alternative investments, so we are sure that the successor ZBI Professional 10 will also be a success for our investors.’
ZBI said it was preparing to launch its next fund, ZBI Professional 10, which will also focus on high-yield assets in German metropolitan regions.
ZBI, based in Erlangen, is a specialist in German residential real estate, with eight branch offices and over 250 staff in total.
