New DAI investment group invests in German residential real estate
The real estate investment foundation DAI launches DAWID, a new investment group for residential real estate in Germany. According to DAI, this is the first investment vehicle of a Swiss investment foundation to invest in German residential real estate. The aim is to allow Swiss pension funds to participate in the attractive German residential market, according to a DAI media release. The German market is characterized by comparatively high value stability and sustainable cash flows, and over the past ten years it has continuously outperformed the German real estate market as a whole, according to DAI.
DAI expects an annual return of four to five percent, with 3.5 to 4.25 percent p.a. coming from current income and 0.5 percent to 0.75 percent p.a. from performance. The initial offering period runs from August 3 to November 2, 2015, and the maximum volume of the initial offering has been set at CHF 250 million. If the issue volume is reached, the initial offering period will be terminated early.
The portfolio manager of DAWID is Dupuis Asset Management, Berlin. The company has been active as an investment and asset manager in the German residential real estate market for more than 20 years. The management is carried out by the founder Quantus AG, the custodian bank function by Bank J. Safra Sarasin AG.
The DAI Real Estate Investment Foundation was established in May 2015 with the aim of providing Swiss pension funds with access to real estate investments in Switzerland and abroad. The members of the Foundation Board are Prof. Dr. Markus Schmidiger, Dr. Stephan Kloess, Dr. Gero Bauknecht and Roland Vögele. (ah)
