GARBE Institutional Capital launches open-end German residential fund

GARBE Institutional Capital has set a €800 million ($901 million) target investment volume for its new German residential real estate fund, GARBE European Residential Fund (GARBE EUResi).

The core alternative investment fund has a target equity volume of between €400 million ($450 million) and €500 million ($563 million). GARBE EUResi has received €82.5 million ($93 million) in equity commitments already.

“With our new flagship fund EUResi, we are transferring GARBE's holistic business model to residential real estate,” said Thomas Kallenbrunnen, managing director of GARBE Institutional Capital. “Our vertical integration of development, investment, portfolio and real estate management services, enables us to achieve broad market coverage and extensive value creation.”

GARBE EUResi will invest in real estate developments and in properties undergoing energy rehabilitation. GARBE said the fund will only invest in locations where the firm has a local