IVG Warsaw Fund Raises €100 Million for IVG Warsaw Fund
IVG has raised approximately €100 million in equity from institutional investors for its IVG Warsaw fund, launched in June 2011. The Spezialfonds under German investment law invests exclusively in nearly new office buildings in the centre of the Polish capital and has a target investment volume of €200 million.
IVG has already acquired four properties with an investment volume of approximately €80 million and a total of almost 13,500 square metres of rental space for the fund, most recently the 5,385-square-metre Norway House at 19 Lwokska Street. With further acquisitions of similar properties, the fund is to be fully invested by the middle of next year.
Investors include a German insurance company, a German pension fund and an institutional investor from Austria. IVG is not only the initiator, but also takes responsibility for fund and asset management via its branches in Vienna and Warsaw.