Empira expands investor base
Real estate investment manager Empira attracted eight new investors to its funds in the first quarter of 2019.
The new subscriptions were attributable to two new institutional funds and the group's second credit fund, which reached final closing in the first quarter of 2019, Empira says. The group's fund products have also been managed on a dedicated AIFM platform in Luxembourg since April 1.
The two newly launched funds are Empira Residential Invest and Empira Real Estate Finance Fund IV. The former invests in residential project developments in Germany and is expected to achieve a total investment volume of around 400 million euros. The second new fund is a real estate loan fund. It aims to provide project developers with relatively low-interest mezzanine capital in return for investors securing a 50 percent stake in the financed project. According to Empire, the fund is invested in 500 million euros of equity. (ah)
