Capital Bay and Gulf Islamic Investments launches senior housing fund
The Capital Bay Group (CB), an international investment, asset, property and facility manager and project developer for real estate of all types of use, integrated at all stages of the value chain, together with the Dubai-based financial management company Gulf Islamic Investments (GII) has launched a senior living fund for international investors. To this end, the two joint venture partners have created the necessary structures in Luxembourg, where the fund will also be regulated. In addition, GII has set up an office in Frankfurt and is ready for the subscription of the first plants.
“The CB GII Senior Living Fund I is to be equipped with an investment volume of up to €500 million [$521 million], which will be financed by appropriate equity and debt capital contributions,” said Rüdiger Kimpel, head of global sales at Capital Bay Group. “Equity commitments of €100 million [$tk million] have already been made for the semi-open fund. In the next six months, real est