Teesland iOG has launched the 2bn German Aktiv Property Fund. The value added fund is being launched on the back of an existing €800 million seed portfolio, with a target of raising €370 million equity on first closure by the middle of the year. The fund will focus on acquiring high yielding commercial properties, providing investors with multi-sector opportunities.
The announcement follows the second closing on the company's €850 million Nordic Aktiv fund, which was three-times over subscribed and has now raised over €300 million, making it one of the most successful European property funds in the market. The fund is investing in commercial properties in Denmark, Sweden, Finland and Norway.
David Seddon, Teesland iOG's CIO Europe, said, "The German Aktiv Property Fund is very well positioned to benefit from the resurgence of the German economy. The launch of the German Aktiv Fund consolidates our Aktiv brand of value added funds and will be followed by further Aktiv funds in the near future with the same asset management-intensive, mixed commercial characteristics. As a group, we are continuing to grow our European fund management operation. The speed at which we are able to launch funds with existing seed portfolios, combined with our eye for emerging markets, define our position at the forefront of European real estate investment."
Source: FD Tamesis