ZAGA Capital Partners, a private real estate investment firm, has achieved a first close of its flagship ZAGA German Real Asset Opportunities II Fund, having secured equity commitments of approximately €210 million ($243 million) through fund commitments and co-investments. With ZAGA’s founders and anchor investor Attegia Holding Ltd. having already committed and deployed substantial equity to date, it takes the total amount of equity raised by ZAGA, to scale its German residential strategy, to approximately €500 million ($578 million).
The fund has been seeded by a €1.4 billion ($1.6 billion), 14,000-unit seed portfolio of residential-for-rent properties, managed by ZAGA’s portfolio company Net Zero Properties, providing investors with day-one income generated from one of Europe’s most structurally supported and mispriced real estate sectors. Located primarily across Western and Northern Germany, the majority of the portfolio has been aggregated off market during
