Empira launches development fund for housing property
Investment manager Empira has launched a fund for housing projects in the top 7 German cities. The “Empira Residential Invest” is anticipated to invest at least €400mn. It will acquire lots with approved building permits and retain the developed assets in its portfolio for the medium term. Empira is taking on all phases of property development as well as the asset management and subsequent transaction management. The firm intends to significantly expand its development division, and has recently acquired Munich-based Projektsteuerer igb for that purpose.
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