Immobilien Europa Direkt continues to grow
Immobilien Europa Direkt continues to grow: New capital commitments totalling more than €110 million and the acquisition of an attractive retail property in France
In the first quarter of 2015 Immobilien Europa Direkt, an investment group of Zurich Investment Foundation with Schroders as asset manager, has secured further capital commitments from investors totaling over €110 million. These new commitments increase the total raised to €307 million and the investment volume of the investment group to over €400 million. As such Immobilien Europa Direkt remains on track to achieve its medium-term investment goal of one billion euros.
Furthermore, in early April Schroder Real Estate Investment Management (Schroders) completed a further purchase on behalf of Immobilien Europa Direkt, investing €30 million in its third retail property, this time near Bordeaux (FR), generating an initial yield of 5.6 percent.
Currently, Immobilien Europa Direkt has eight properties in prime locations in the three main target markets of Germany, France and the UK. The portfolio quality is emphasized by the long-term secured revenues with an average unexpired lease term of approximately 7 years and low vacancy rate of around 3 percent. The net property yield of the portfolio is an attractive 6.3 percent.
In the current year, further equity raising is planned and acquisitions totaling a minimum €200 million are targeted, increasing the attractiveness and diversification of the portfolio. Consequently, in the current market environment Immobilien Europa Direkt continues to offer investors a rare investment opportunity to participate in an attractive, income yielding and well diversified European real estate portfolio.
Immobilien Europa Direkt was launched in 2013 by Zurich Investment Foundation, with Schroders as its designated investment manager. It is an open-ended, Euro denominated investment group, specifically tailored to the needs of Swiss occupational pension schemes.
For further information please contact:
Roger Hennig, Head Real Estate Switzerland +41 (0) 44 250 12 91
Robert Varley, Product Manager Swiss & European Property +41 (0) 44 250 12 25