The UniCredit subsidiary Wealthcap has started to fundraise for its recently launched closed-end real estate fund, Immobilien Deutschland 41.
Target equity volume of the fund is up to €200 million ($235 million).
It has raised €140 million ($164 million), a portion of it (€71 million/$83 million) for the fund’s predecessor “Immobilien Deutschland 40”.
The fund will invest in office real estate in Hamburg (Nordex, Langenhorner Chaussee 602), Nuremberg (Frankencampus, Frankenstraße 146) and Munich (Leuchtenberg, Berg-am-Laim-Straße 43-47).
The fund has started to invest some of its capital, including the acquisition of three office buildings in Hamburg, Nuremberg and Munich.
The Hamburg property on Langenhorner Chaussee 602 totals 129,000 square feet and is leased to Nordex. The Frankencampus on Frankenstraße 146 in Nuremberg has approximately 151,000 square feet and is under development. It is expected to be completed by the end of
