Shore Capital holds final close for German real estate fund
Shore Capital Group has held a final close of €150 million ($165.97 million) for Brandenburg Realty Limited. The fund focuses on German residential real estate.
The fund was launched in October 2014 and held a first close this past March having raised €135 million ($145.9 million). The commitments come from institutional and family offices, primarily from the United States.
“Brandenburg Realty will build on Puma Brandenburg’s successful track record in the German real estate sector developed over the past decade,” said Howard Shore, executive chairman of Shore Capital, in a statement “With our team on the ground in Berlin, we are perfectly placed and have the in-house expertise to assist the new vehicle in executing its strategy to acquire well-located, high-quality residential buildings in major German cities.”
Puma Brandenburg Limited’s German property portfolio has acquired more than 437,000 square mete