Germany-based DIC Asset AG has launched its seventh open-ended special alternative investment fund, DIC Office Balance V.
The target investment volume is €350 million to €400 million ($409 million to $468 million).
The new fund seeks to invest in commercial real estate in German metropolitan regions and wants to continue the Office Balance Series of DIC Asset AG. It is intended for institutional investors.
The fund paid €130 million ($152 million) for two buildings in Munich and Hamburg, respectively.
“Demand for office real estate remains very high in cities like Hamburg and Munich,” said Sonja Wärntges, CEO of DIC Asset AG. “The high-end start-up portfolio of two assets, which we secured for the early 2017 as well as for the future for our investors, and DIC Office Balance V wants to generate sound quality yields.”
