Union Investment and Deutsche Asset One launch €750m fund
Two new funds from Union Investment and Savills Investment Management were given the green light at the tail end of 2017.
Union Investment has provided the KVG (capital management company) platform for Deutsche Asset One to control the deal sourcing, transaction management and asset management for a new housing fund. Spezialfonds, Wohnen Deutschland Spezial, has a target volume of €750 million. Approximately €250 million in equity capital was accrued for the launch. An initial portfolio was purchased with 2,200 apartments in Kronach, Berlin and other locations. The investment profile of the fund comprises existing and new housing in Germany with a focus on A- and B-cities as well as selected C-cities.
Savills’ fund, Nordic Fund III – Retail, raised €110 million ahead of its first close and has acquired four Swedish retail parks located alongside IKEA stores as its first assets. Nordic III – Retail is a core-plus real estate fund that will invest in high str