After the recently effected full placement of the London EuroSelect 11 fund, IVG is already launching its successor. The new EuroSelect 12 with a total investment volume of €350 million comprises the London headquarters of the internationally renowned ING bank group. The fund property, with 24,000 square meters, is fully leased until at least 2016 and is located in the heart of the City of London's banking district.
Private investors can participate in the fund from €15,000 and profit with an initial dividend of 5.75 percent. The advantages of the EuroSelect line remain valid for these funds: a buy-back option in cases of personal emergency, tax exemption of up to €7,500 through the German-British Double Taxation Treaty (equivalent to an investment amount of €100,000) and tradability in secondary markets. During the term of the funds the London IVG subsidiary will manage the building.
The predecessor EuroSelect 11 with €85 million equity likewise invested in the London banking district was placed among private investors from the end of November within only 10 weeks. In January 2006 alone, private investors subscribed fund units at IVG for an amount totalling EUR 40 million. Since 2004, IVG has already raised some €300 million equity in four closed-end funds for London real estate.
The quality of IVG's EuroSelect Funds have also been confirmed by the independent rating agency Scope. In September 2005, IVG was honoured with the Scope Award for the best issuing house in the "European Closed-end Real Estate Funds" segment. Justifying their choice, the jury said that "IVG Immobilien AG has breathed new life into Europe as an investment target over the past 18 months with its EuroSelect series. High product quality combined with strategic vision have transformed the issuing house into the market leader in this segment within a very short period".