Becken launches mezzanine fund for project co-financing
The project developer Becken has set up a mezzanine debt fund for institutional investors and family offices through its investment company. The “REPE Funds” is organized under Luxembourg law and invests in Becken’s office and housing development projects in Hamburg, Berlin, Munich, Düsseldorf and the greater Frankfurt area. The first subfund will co-finance an office and a residential construction project in Hamburg and an office project in Wiesbaden, for a total of €300mn. The target total return for fund investors is more than 12.0% IRR p.a. Hansainvest is acting as Service KVG. The interfaces between Becken and Hansainvest and the individual advising of investors will be taken over by hsp Investment Advisory, founded especially for this purpose by Becken. Each year, three to five projects with a volume of between €300mn and €500mn will be co-financed through the new fund structure.
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