16. Februar 2012 
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IVG EuroSelect 21 Munich: already 100 million Euros equity placed
At the beginning of January IVG Private Funds launched with the EuroSelect 21 Munich a new closed-end real estate fund. The new fund invests in Allianz’s largest German site in Unterföhring (Munich district), consisting of a central administrative building and an operations building. The latter is also home to the group’s largest data centre worldwide. Both buildings, which have total floor space of around 131,000 sq m, are let to Allianz until at least 31 December 2024 under the terms of an indexed rental agreement. In the first 6 weeks already over 100 million Euros of the planned fund volume of about 205 million Euros could be placed. The forecast annual payments are 5.5%.
Over the past 20 years, Allianz has successively established Unterföhring as its largest site in Germany. It is currently home to around 6,300 employees, with a further 1,500 set to move to the location by 2014. Unterföhring is situated halfway between central Munich and Franz Josef Strauss Airport. It is extremely well connected to the motorway network and can be reached quickly using the S8 commuter train line. The building is located immediately next to Unterföhring station.
The investment volume of the fund is around 330 million Euros. This consists of limited liability capital of 205 million Euros plus a 5% premium, and proportionate debt capital of 115 million Euros (leverage approx. 35%). Interested investors can invest in the fund from a minimum investment of 10,000 Euros plus a 5% premium. The total reflow of funds is forecast at around 179% before taxes. As a co-investor, IVG Immobilien AG is making a long-term investment of more than 21 million Euros in the EuroSelect 21 Munich property companies.
Over the past 20 years, Allianz has successively established Unterföhring as its largest site in Germany. It is currently home to around 6,300 employees, with a further 1,500 set to move to the location by 2014. Unterföhring is situated halfway between central Munich and Franz Josef Strauss Airport. It is extremely well connected to the motorway network and can be reached quickly using the S8 commuter train line. The building is located immediately next to Unterföhring station.
The investment volume of the fund is around 330 million Euros. This consists of limited liability capital of 205 million Euros plus a 5% premium, and proportionate debt capital of 115 million Euros (leverage approx. 35%). Interested investors can invest in the fund from a minimum investment of 10,000 Euros plus a 5% premium. The total reflow of funds is forecast at around 179% before taxes. As a co-investor, IVG Immobilien AG is making a long-term investment of more than 21 million Euros in the EuroSelect 21 Munich property companies.
