The Akron Group has drawn approx. â¬40 mln. of private and institutional capital for investments in its several investment funds in 2004. In Western Europe approx. â¬35 mln. of capital was invested in real estate, in Eastern Europe over â¬100 mln. Akron now has approx. â¬450 mln. of real estate capital under management.
Investors in the Western Europe Fund made a return between 10 and 13%, in Central and Eastern Europe between 15 and 17%.
The value of the Dutch Akron real estate portfolio, which is management by the open fund Akron Management BV (AIBV) and a number of closed funds, rose with approx. 10% in 2004 and currently has a value of â¬250 mln. The total rental return rose with 8% to â¬21.4 mln. In 2004 the first institutional parties were attracted; Allied Irish Bank, Dublin and the Immofinanzgruppe Wien.
Akron wants to continue the same trend in 2005. In Western Europe, with a focus on the Netherlands, investments of at least â¬100 mln. are planned and similar investments are also planned in Eastern Europe. Eminent technical quality of buildings, loyal tenants and long-term rental agreements are among the most important criteria when selecting objects.
For further expansion, Akron wants to draw new private and institutional investors in 2005. In Western Europe, Akron wants to realize a double-digit growth in the future and in Central and Eastern Europe, a return of at least 15% should be possible.
For the further expansion in Eastern Europe, the partnership with the Austrian investment company Imak CEE which was made at the end of 2004, is an important step. The name of the new fund is Imak CEE and itâs managed by Akron. It primarily aims at the growing real estate market in Warsaw, Prague and Budapest. The new fund will start with a real estate portfolio which consists of seven objects with a total value of â¬110 mln., alle fully let to international companies. The planned total value of the fund is â¬260 mln.