19 November 2020
Contact person for the press
Becken launches office property fund for institutional investors
and family offices
Special open-ended AIF has a target volume of EUR 250 million
The Becken family office was the first investor to join the company
Target performance of the "Solid Office Fund I" of 4 percent current distribution
and 6 percent IRR announced
Hamburg, November 19, 2020. The owner-managed Hamburg real estate and investment company Becken is launching a special open AIF for institutional investors and family offices via its investment company BECKEN Invest GmbH. The "Solid Office Fund I" (SOF I) invests in core office properties in prime locations in German metropolitan areas and their growth regions. The office portfolio properties have a size of up to 5,000 square metres of rental space. The focus is on properties with small-scale spaces and a purchase price of between 15 and 40 million euros. The target total return for fund investors is 6.0 percent IRR. HANSAINVEST Hanseatische Investment-GmbH acts as the service KVG.
The target fund volume is around 250 million euros, of which up to 50 percent is to be equity. The minimum subscription size is 10 million euros. The Becken family's family office is the first investor to have already entered the fund. Michael Amann, Managing Director of BECKEN Invest, explains: "Investors are lacking sustainable real estate investments in top locations, where subsequent letting in the event of a tenant moving out is not a problem. These requirements are covered by small-scale office properties in top locations in the major cities. We plan to fully place the fund by early summer 2021 and have built up a deal pipeline for this purpose so that we can also invest the investors' money quickly".
Prof. Dr. Michael Becken, managing director of BECKEN Invest, adds: "We still believe in office products. Especially small and medium-sized properties in good and very good locations are crisis-proof investments that will be in demand in the long term".