Empira holds €1.3b close for resi development fund
The Empira Group has closed its Empira Residential Invest fund with a total volume of €1.3 billion.
The residential project development fund invests in residential developments in the top seven cities in Germany. Around €600 million has already been invested in the construction of 1,400 rental apartments, and the firm expects the fund to be fully invested in the coming months. The Empira Group has applied for an Article 8 classification for the fund under the EU’s Sustainable Finance Disclosure Regulation (SFDR).
Another German-focused vehicle for the multifamily sector is the recently launched GARBE European Residential Fund (GARBE EUResi), managed by GARBE Institutional Capital. With a €800 million target investment volume, GARBE EUResi will invest in real estate developments and properties undergoing energy rehabilitation.
Another fund launched for the German market is Kingstone L