Hamburg Trust launches open-ended real estate fund
Asset manager Hamburg Trust has launched an open-ended real estate fund for German insurance company.
The HT Office Top 30 Invest is structured as an open real estate fund according to KAGB. The investments of the fund are to be made in office and commercial buildings in large and medium-sized cities with good demographic and economic development as well as in demanded locations within the top seven cities.
At the beginning of the year, Hamburg Trust was granted the KVG license to issue open-end real estate funds. The HT Office Top 30 Invest is the company’s first open-ended real estate fund. With the expansion of the product range for institutional investors, the planned investment volume of currently around €1.1bn is to be increased significantly in the coming years.
A broad diversification is to be achieved through the acquisition of existing properties, new construction projects and forward transactions. There is a focus on buildings with several tenants and different lease terms, so-called multi-tenant properties. This strategy should also contribute to diversification. Initially, the investment volume will amount to around €150m with an equity ratio of around 50%.