Real IS seeks €300m of assets for new Realisinvest Europa fund

German investor Real IS has acquired the first property in Amsterdam for its new Realisinvest Europa open-ended real estate AIF for private investors.

Real IS has acquired the Moermanskkade 300 office building in Amsterdam’s Houthavens district for an undisclosed amount. The five-storey office building was constructed in 2018 with around 5,000 m2 of floor space and is currently let to six users. The seller was a private investor.
 
The new Realisinvest Europa fund is planned to go public with a seed portfolio of up to five properties with an investment volume of about €300 mln in Q1 2020. Real IS said it plans to announce further acquisitions shortly. The company expects to make an annual payout of 2.0 to 2.5% at fund level.

In addition to Germany, the vehicle will invest in the Netherlands, France, Ireland and Spain.

'Houthavens has established itself as a hub for the growing creative industry, and has become a base for many media and design companies. With this acquisition, we are making sure that our investors can benefit from the development of this attractive Amsterdam submarket, which is well positioned to enjoy continued future growth,' explained Axel Schulz, head of Global Investment Management at Real IS.
 
'Having concluded this acquisition for our first open-ended product for private investors, we have taken the first step to implement our clearly defined investment strategy. The property is modern, has a high occupancy rate and is in a sustainable micro-location with great potential,' explained Jochen Schenk, CEO of Real IS. 'The Amsterdam office market also has an attractive risk-return profile and benefits not only from falling vacancy rates but also from rising prime rents, especially in attractive waterfront locations.'
 
Van Dijk and Ten Cate Vastgoedadviseurs advised Real IS on the transaction. Legal advice was provided by DLA Piper and technical due diligence was conducted by Savills.

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