Fundim launches new fund
The asset manager Fundim of Western Switzerland announces the launch of Realitim III. The new fund will invest in real estate developments.
According to Fundim, the third fund in the Realitim series focuses on "soft densification, the creation of energy self-sufficient housing and the democratization of housing acquisition". The target subscription volume is CHF 100 million, with a double-digit return target. According to Fundim, there are already projects for the Realitim III as well as broad interest in subscribing to the fund. Realitim III is currently in the approval process by the financial regulator Finma.
The business model is based on creating added value through the management of projects at various stages of development - from the allocation of land to the design and construction of buildings. The land developed in this way is to be resold when certain stages are reached: Either when the right to build or the building permit is obtained, or when the properties are put into operation.
Recently, the asset manager completed the acquisition phase of Realitim II, which was launched in 2016; the portfolio comprises twelve projects in Vaud, Neuchâtel and Fribourg. With a time horizon of seven to nine years, the fund, like its predecessor product, aims for a double-digit return, Fundim said. The recently closed Realitim I generated an internal rate of return of 13% (net), it said.
