Empira launches new credit fund
The real estate investment manager Empira has once again launched a credit fund, Empira Real Estate Finance Fund IV, which is expected to be worth around EUR 500 million.
According to a statement from Empira, the fund is aimed at property developers and project developers from Switzerland, Germany, Austria and the Benelux countries who want to purchase land and develop residential and commercial properties. Subordinated mezzanine financing will be provided, with relatively low interest rates. The fund also participates in project development. The planned investment level is 50 percent, with projects with a total investment volume of 150 million euros or more being considered.
The planned volume of the fund is around 500 million euros. According to Empira, initial financing has already been provided.
"Institutional investors benefit from an ongoing interest rate and at the same time have the opportunity to participate in the value creation. In return, project developers receive attractive mezzanine capital and thus an alternative to the classic bank loan," says Lahcen Knapp, CEO of Empira.
The group, headquartered in Zug, specializes in real estate investments in German-speaking Europe; its clients are institutional investors from Germany, Austria and Switzerland. According to its own information, the investment volume is just under 1.7 billion euros. (ah)
