Peakside Capital holds €200m final close for German value-add fund

Peakside Capital, the independent, owner-operated real estate private equity manager with offices in Frankfurt, Munich, Warsaw, Prague, Zug (CH) and Luxembourg, has closed Peakside Real Estate Fund III (PREF III), reaching the hard cap of €200 million ($235 million), and providing PREF III with a total investment capacity of around €650 million ($764 million).

In addition, Peakside has secured co-investment commitments, which will provide additional firepower for the fund.

PREF III is Peakside’s latest German-focused fund targeting value-add investments in strong locations across the country’s top seven cities and regional hubs. As with its predecessor funds, it will acquire assets in good or developing micro locations at an attractive entry price.

The majority of European institutional investors in the fund have supported Peakside’s previous funds, as well as new institutional investors from Europe, including domestic German pension schemes and a larg