Expo Real 2012: Munich-based real estate company Real IS’s Jochen Schenk said that the firm’s next acquisition would take place in Australia and would be purchased in the framework of a private customer business.
“The next acquired property will be in Australia followed by one in Germany,” says Schenk.
The company recently launched the Real IS Regionalfonds Sueddeutschland fund, which has already raised €100m from institutional investors and is aiming at a target of €400m including debt.
However, Schenk said that regarding to existing commitments, the fund might exceed its target volume. Furthermore, the fund portfolio would, for the first time, include residential investments of 10% to 20% in southern Germany, not including Munich and Stuttgart, he said.
Real IS is also looking for acquisitions for the Real IS BGV V fund, which has already raised around €250m. So far, the company has acquired two properties in the Benelux region and two investments in Germany.
Real IS will be looking to acquire further properties for the fund until the end of the year.
