Empira launches German residential fund
The Empira Group has announced that it will launch a €400 million residential project development fund. Investments will be made in Germany's top 7 locations.
The project development AIF Empira Residential Invest will invest in residential real estate projects with a focus on Germany's top 7 locations, Empira says. Land with existing building rights will be acquired and developed. Furthermore, the Empira Group also intends to take over the asset management and the final transaction management of the developed portfolio properties. The total investment volume is expected to be at least 400 million euros.
"Institutional investors benefit from attractive returns with the new fund, as they enter the value chain at an early stage. German metropolises will continue to benefit from demographic growth in the future," says Lahcen Knapp, CEO of Empira Group. Since the residential properties are to be developed by the company itself and held in the portfolio over the medium term, investors would not only generate a regular cash flow but also a value-added return that is significantly higher than the comparative value of purchasing an existing property, Knapp added.
The Empira Group describes itself as a leading investment manager for institutional real estate investments in German-speaking Europe. It says its investment volume is just under 1.7 billion euros. Customers are institutional investors from Germany, Austria and Switzerland. The company is headquartered in Zug, with additional offices in Luxembourg, Frankfurt am Main, Munich and Leipzig. (ah)
