Global Investors has launched its first club fund for German investors, following the establishment of its German-regulated fund management company.
The Los Angeles-headquartered fund manager said it had set up its own Kapitalverwaltungsgesellschaft (KVG) after obtaining official approval to manage alternative real estate investment funds under German law.
A number of German investors are joining the club fund, which will buy office and retail properties in Germany鈥檚 biggest seven cities and improve them.
It will target locations benefiting from urbanisation and properties with scope to appreciate under a 鈥渕anufacture-to-core鈥� approach, CBRE Global Investors said.
Managing director Chris Wood said: 鈥淭his is a good start and illustrates that we are bringing something to the German real estate market that investors want.鈥�
Marius Sch枚ner, country manager for Germany, said: 鈥淲ith the KVG, we are now able to offer German investors the possibility to invest by way of our own dedicated German fund management vehicle.鈥�
