Global Finance launches 125 MN real estate fund for south eastern europe

Global Finance, the leading Greek private equity management firm, has established its first real estate fund, Global Emerging Property Fund (GEPF) with committed capital in excess of € 125 million. The Fund’s property advisor is EFG Eurobank Properties, one of the leading real estate advisory firms in the region.

Investors in the fund include select high net worth individuals and blue-chip institutions such as the European Bank for Reconstruction and Development (EBRD) and IMMOEAST Immobilien Anlagen AG , a listed on the Vienna Stock Exchange subsidiary of the also listed, on the same stock exchange IMMOFINANZ Immobilien Anlagen AG.

Global Finance’s property fund expects to invest roughly €450 million, including leverage, predominantly in commercial real estate in Romania, Serbia and Bulgaria while up to 20% of the fund can be invested in other countries in Eastern Europe such as the Ukraine. The fund will focus on the acquisition and development of high quality, western-style offices, retail centers (shopping centers, big boxes) and industrial properties (distribution centers, warehouses), for lease to multi-national and leading local companies. An essential aspect of the fund’s strategy is the professional management of the properties in its portfolio.

Global Finance anticipates a second closing that would bring the fund’s committed capital to its maximum of € 150 million by year end.

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