Reax: HIH Invest and Intreal found investment advisor with pillar in the secondary market
HIH Invest Real Estate and Intreal have joined to found a company advising institutional investors on their investment decisions and brokering suitable transactions. Hamburger Real Exchange AG (Reax) reports having received its first placement order in the amount of €60mn for an open-ended real estate Spezialfonds focusing on housing property. Apart from brokering initial subscriptions of open-ended real estate Spezialfonds, the company will build a second arm in the secondary market for institutional fund shares; the needed Bafin permit is expected to be issued this year. Executives of the company are Ulrich Nack (Consulting), Jörn Zurmühlen (Property and Property Valuation) and Heiko Böhnke (Sales).
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