Aukera Real Estate AG first close real estate debt fund at EUR275m
Aukera Real Estate AG (Aukera), an independent, owner-managed investment boutique based in Oberhausen, has held the first closing of its real estate debt fund with capital commitments of EUR275 million.
The first institutional investor is a German life insurance company.
Early in the third quarter of 2020, the Aukera investment team set up a Luxembourg-based fund with the legal form of a SCA SICAV-RAIF which will be available for institutional and professional investors as a suitable investment vehicle. The investment focus of the real estate debt fund is commercial real estate financing in continental Europe, with the financing spectrum comprising senior and mezzanine debt as well as project financing and short-term bridge loans.
Lars Armgart, CEO of Aukera, says: “With the first closing shortly after commencement of our business activities on 1 July 2020, we have taken a crucial step with our newly founded company. We are currently working on the first potential investments, which we aim to close promptly for our investors.
“Investors’ appetite for managed debt capital investments is high. One of the key reasons for this is that over the past few years, in spite of price increases and the associated falling equity capital returns in the real estate market, we have been able to offer above-average risk-return profiles for investors with our asset class real estate debt. The borrower’s equity contribution acts as a risk buffer and represents a further advantage for the asset class of real estate debt during this current market phase. Among borrowers too, the demand for alternative financing partners remains unbroken. The deal flow during the first ten weeks after business start was more than EUR1.9 billion.”