28 September 2021

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Nina Binné
Head of Marketing and Corporate Communications

T +49 40 237 840 15
n.binne@becken.de

 

BECKEN Invest achieves first return of over 20 percent IRR p.a. for Mezzanine Debt Fund REPE 1.

  • Further project developments already sold or about to be sold
  • REPE 2 already invested in four projects, third sub-fund planned

Hamburg, 28 September 2021. The owner-managed Hamburg real estate and investment company Becken has returned the first capital to its investors via its company BECKEN Invest for the mezzanine debt fund REPE 1. For this purpose, a co-financed property in Hamburg was successfully realised. The return on the first project at investor level and after fund costs is over 20 percent Internal Rate of Return (IRR) per year. A second office project in Wiesbaden is already fully let and was sold before completion. Another REPE 1 project development is about to be fully let and sold. The second sub-fund, REPE 2, is now invested in four projects and thus 80 percent.

Prof. Dr. Michael Becken, Managing Director of BECKEN Invest GmbH, says: "With the annualised return (IRR) of the first project, we clearly exceed the forecast of ten to twelve percent. We are currently planning a third sub-fund, REPE 3, with a target volume of around 100 million euros. Two concrete major projects have already been secured for this."

Michael Amann, Managing Director of BECKEN Invest, adds: "Institutional investors continue to be on the lookout for promising properties in the major German conurbations. In addition to traditional portfolio investments, they are also willing to invest in project developments and thereby increase their returns via a mix of allocations. With REPE's focus on office and residential project developments by Becken in German metropolitan areas, we can meet this demand and achieve correspondingly attractive returns for our investors."