German Usufruct Fund I

Fund Size

EUR 100m

Fund Description

German Real Estate

GUF-1 purchases real estate from retirees in Germany, while granting them a lifelong right to live in the property.

The properties are purchased with an average 40% discount, while the fund builds a portfolio of some of the most sought-after, off-market properties in Germany. After the expiration of an usufruct contract, GUF-I enhances the property and sells it through Engel & Völkers, von Poll and other leading real estate partners. This is a stress-tested investment opportunity and is expected to deliver solid returns, even during times of crisis. As a base case scenario, the fund is expected to return a net IRR of 12%.

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Fund highlights

Fund Manager: CES Investments
Fund Admin: APEX
Legal: BSA
Auditor: Russell Bedford
Financial Advisor: PWC
Real Estate Partner: Engel & Völkers
Fund Profile: Real Estate
Target Market: Germany
Fund Size: EUR 100m
Closing: EUR 100m (Q4 2021)
Fund Term: 5 + 3 Years