ARTICLES LABELLED WITH TAG fund

Ott Ventures, the private equity arm and fund management platform run by Orco Property Group and MaMaison Hotels & Residences founder Ott Properties, has announced the launch of its first hotel fund, Velvet. The pan-European investment vehicle is targeting total assets under management of €500 million with a planned LTV of 50%. It will invest across Europe with a focus on the main Central European markets of Poland, Czech Republic and Hungary as well as Germany and Austria.

Palmira Capital Partners, one of the leading sector specialists in European logistics and industrial properties, has launched the Palmira European Core Logistics Fund.

Mint Investments has established a new real estate fund which will target people interested in investing in the resi-for-rent sector. MINT rezidenční fond SICAV plans to acquire rental residential buildings in large Czech cities, mainly in Prague and Brno. The fund completed its first €19 million (CZK 500 million) acquisition in the country’s second-largest city – Mint Living Brno Campus comprises 120 apartments as well as office and retail space.

Croatia's AZ pension funds have acquired 99.9% of local real estate company M7 Primo for €21 million (HRK 161 million) via a capital increase ahead of M7 Primo's planned listing next year.

Bence Balázs is the new Head of Real Estate at Diófa Asset Management. Bence Balázs has gained 13 years professional experience on domestic, regional and international commercial real estate markets. He joined Diófa Asset Management in 2019 as portfolio manager responsible for real estate investment funds. As head of real estate at Diófa Asset Management, his responsibilities include the coordination of the asset management, fund management, leasing and investment management operations of the company. Bence aims to further expand the core real estate portfolios of Diófa, to refine the asset and fund management systems of the company and intends to ensure stable and predictable return levels towards the retail and institutional investors of the funds. In addition, he intends to launch new funds and investment products together with the Diófa team

Hungary’s Indotek Group has agreed to acquire the majority ownership of local investor Diófa Asset Management. As one of the leading investment management and real estate development groups of Hungary, Indotek Group – as a professional long-term investor – intends to provide the ownership background Diófa Asset Management is in need of, in order to strengthen its market position and to develop its portfolio of services on the markets of property management and investment products.

Cromwell has completed the acquisition of all third party investor interests in the Cromwell Polish Retail Fund (CPRF). CPRF contains seven catchment-dominating shopping centres with a Gross Asset Value of approximately €600 million. The centres have an occupancy rate of 96.3% and a weighted average lease term (WALT) of 5.1 years.

OTP Real Estate Investment Fund has acquired the 26,000 sqm Roosevelt office building in central Budapest. The seller was Munich-based GLL Real Estate Partners (GLL).

Blackstone announced the final close of its latest global real estate fund, Blackstone Real Estate Partners IX. BREP IX has $20.5 billion of total capital commitments — the largest real estate fund ever raised. Blackstone is also currently investing two regional opportunistic funds, the €7.9 billion BREP Europe V and the $7.2 billion BREP Asia II.

At the end of September or in early October, the Accolade Fund will exceed the symbolic mark 500,000 sqm of fully occupied rental space for light industry, e-commerce and logistics. This will move the Fund closer to another magical mark: CZK 10 billion worth of properties under its management. If all pending transactions are taken into account, the Fund’s rental property portfolio will increase to 515,000 sqm, worth in total €351.5 million, which is more than CZK 9 billion.