Project’s German property funds aims for 9% return

real estateProject, a German real estate asset manager with €1.2 billion of assets under management, is to launch a version of its Vier Metropolen fund, which invests in urban German real estate projects, for institutional investors.

Vier Metropolen II will invest in residential properties in Germany’s four biggest cities: Berlin, Hamburg, Munich and Cologne. It aims to achieve an annual return of 7-9% after fees, with a project volume of up to €250 million.

Investors will be able to access a portfolio of eight to ten developments in at least three cities.

Project, which has offices in eight German cities and in Vienna, launched the forerunner to the fund, the Vier Metropolen fund, in mid-2013 and closed in February this year, with equity amounting to €80 million.

The fund will be compliant with the Alternative Investment Fund Managers Directive and is to launch in January 2016. There is a minimum investment requirement of €5 million.

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