Corestate Capital, a Zurich-based real estate management firm, has raised EUR 486mln for its real estate private equity fund, Corestate German Residential Limited. Corestate is hoping to grow the fund - which invests directly and indirectly in German residential properties - to EUR 2bn, with 75% leverage. The fund will run until 2014 and has attracted a range of institutional investors, including ING Real Estate Select in the Netherlands, UK-based Morley Asset Management and Australia's Goodman Group. It will likely be fully invested by the end of the first quarter of next year.
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