Hamburg-based property company Quantum Immobilien said on Monday it has launched the new City Parking special real estate fund for institutional investors. The fund will invest in multi-story car parks and parking lots in Germany and the rest of Europe and will target a size of between EUR 25 mln to EUR 500 mln, of which at least half will be equity. City Parking aims to reach a return of 8% to 10% per annum, Quantum said in a statement. It added that the fund's management fee will be performance-related, meaning that it is charged on the basis of the payout return generated for the investors.
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