The net asset value per share of the “BR-NAS German Mittelstand Properties RAIF-SICAV” increased by close to ten percent in the first year since inception
As such, the commercial property fund performs entirely in line with its IRR target of eight to twelve percent p.a.
Successful letting and the implementation of capex measures as value drivers
Berlin, 30 August 2018. BR-NAS German Mittelstand Properties, a Luxembourg-based joint venture between NAS Invest Group and BlueRock Group, is prospering. The joint venture succeeded in increasing the performance of the commercial property fund “BR-NAS German Mittelstand Properties RAIF-SICAV” to close to ten percent over the first year since fund inception in the spring of 2017. This is well in line with the annual target return (IRR) of eight to twelve percent.
“With this result, we have fully delivered on our milestone targets. The fund develops as scheduled and we could increase the portfolio value over a short period of time through our active asset management,” says Nikolai Dëus-von Homeyer, managing partner at NAS Invest. “Our strategy to make targeted investments in office and health centre buildings with small and mid-sized corporate tenants is paying off.”
“We appreciate the trust of our investors who can benefit from stable cash flows and attractive returns over the fund’s investment horizon of at least seven years,” adds Ronny Pifko, founder and director of BlueRock Group.
The “BR-NAS German Mittelstand Properties RAIF-SICAV” enables private asset managers (family offices) and high net worth individuals as well as institutional investors to invest in a diversified portfolio of commercial properties across Germany’s thriving metropolitan regions. The portfolio now holds seven office and health centre buildings with a total volume of over EUR 100 million, an occupancy ratio of c. 96 percent and a continually optimised tenant structure. The joint venture is currently reviewing additional investment opportunities.