An insurance company and two pension funds are among the professional investors who subscribed to the purely equity-based semi-blind pool special fund and invested 50 million euros in April. Now another two related major institutional investors collectively contributed 15 million euros to the fund for residential property developments.

Within three months five major investors have introduced a total of 65 million euros into the institutional real estate fund »Four Metropolises«. »For the end of this year a total target volume of 100 million euros is planned«, says Jürgen Uwira, Managing Director of the PROJECT Real Estate Trust GmbH.

»Four Metropolises« has already invested in three properties in the metropolitan regions of Hamburg and Berlin: The residential real estate developments »Curtiusstraße« (Berlin Lichterfelde-West), »Heinrich-Heine Straße« (Berlin-Mitte) and »Aspelohe« (Norderstedt / Hamburg) comprise over 200 residential units and combine an overall sales volume of around 90 million euros. According to the diversification strategy, the real estate development fund which is specialized on residential property developments in the four German metropolises Berlin, Hamburg, Frankfurt and Munich will diversify the injected capital to at least six objects at three locations.

The target return after fund costs is 8 percent IRR per year. June 30th 2019 is scheduled as expiration date. »Four Metropolises« is managed by the future capital management company of the PROJECT Investment Group, the PROJECT Investment AG which is currently in the licensing process. The depositary is CACEIS Bank Deutschland GmbH.



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