September 09, 2020
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BECKEN Invest further expands fund business
- Mezzanine Debt Fund REPE 1 fully placed
- First closing of the successor fund REPE 2 takes place
- REPE 2 is to co-finance a development volume of up to 700 million euros
- Fund expert Michael Amann to expand fund division as Managing Director
Hamburg, September 09, 2020. The owner-managed Hamburg-based real estate and investment company Becken has fully placed its first mezzanine debt fund REPE 1 via its company BECKEN Invest. The fund invests in Becken's office and residential project developments in major German cities. The first project development has already been sold and two thirds of the portfolio has been pre-let. The first closing has already taken place for the second sub-fund, REPE 2. Further institutional investors have been acquired for this fund and the fund volume has already doubled compared to its predecessor in the first closing. The first project developments of basins are to be financed via the fund at the end of 2020. With the successful placement of the second sub-fund, Becken is expanding the management of BECKEN Invest GmbH to include Michael Amann. Together with Prof. Dr. Michael Becken, the long-standing fund expert will drive forward and further expand BECKEN Invest's fund business.
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Prof. Dr. Michael Becken, Managing Director of BECKEN Invest GmbH, says: "I am delighted to have Mr. Amann, a proven expert in real estate funds, at our side and to be able to lay the foundation for further expansion of Becken's fund business." Michael Amann adds: "Investors lack sustainable office real estate investments in prime locations where re-letting is not a problem in the event of a tenant moving out. We see a lot of potential here in smaller office properties that meet the needs of market participants despite the trend towards working from home. We will therefore take a closer look at the office portfolio segment in the coming months and examine whether further fund initiatives are possible here."
Amann is 53 years old and has extensive real estate expertise. He can look back on more than 25 years of experience in asset and investment management. Before joining BECKEN, Amann most recently worked for Universal Investment, a
of the leading European fund service platforms, as Director Sales International. Previously, he was Head of Commercial Transaction Management and Head of the Frankfurt branch at Capital Bay.
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20354 Hamburg
T: +49 40 237 840 10
E: info@becken.de
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