Stuttgart, April 12th, 2022 – AIF Capital Group, a specialist for regulated alternative investment funds, is placing a new open-ended special fund, “AIF Lebensquartiere I“. The vehicle with a target volume of EUR 300 million invests for institutional investors in mixed-use, sustainable, inner-city neighborhoods with a focus on residential.
The fund is classified according to Article 8 of the EU Disclosure Regulation, which means that environmental and social attributes are integrated into the investment conditions. For this purpose, the AIF Capital Group has developed an ESG scoring model that measurably maps the defined environmental and social characteristics. Their fulfillment is checked for each investment decision and in ongoing asset management through regular ESG checks.
The first purchase for the AIF Lebensquartier I fund has already been made with a residential complex under construction in Lahr/Black Forest in Baden-Wuerttemberg. Five of the total of seven residential buildings in the “Quartier am Stadtpark Lahr” new construction project have been acquired. The five properties have a total rental area of around 5,400 m2, divided into a total of 56 two- to five-room apartments. The buildings will be constructed in accordance with the KfW55 EE standard and meet the ecological and social characteristics specified by the AIF Capital Group.
Completion of two residential buildings is scheduled for the end of 2022, and three buildings will be constructed in a further phase by the beginning of 2024. The residential quarter also includes 45 underground parking spaces and 26 outdoor parking spaces. The project developer and seller of the residential complex is a property company of Immo Pro Invest GmbH based in Bad Dürrheim. AIF Capital was advised on the purchase by RITTERSHAUS Rechtsanwälte Steuerberater PartmbB (legal) and TÜV SÜD Advimo GmbH (technical).
With the new life quarter fund AIF Capital, beside its different public funds, puts the 9th topic fund for institutional investors since existence of the enterprise up in the meantime. AIF counts as living quarters inner-city, mixed-use quarters with the primary use being residential, which can also include various types of housing, such as age-appropriate living and assisted living. Other uses may include local shopping, grocery retail, drug stores, pharmacies, medical offices, hairdressers, restaurants, office space, and childcare. AIF already has an acquisition pipeline of around EUR 260 million for the fund.
Dr. Sven Eggers, CEO of AIF Partner-KVG, says: “Investments in mixed-use inner-city neighborhoods are strategically sustainable because they generate stable and crisis-resistant cash flows over the long term and represent an investment in the future of inner-city living. As such, our new fund is an ideal fit with our philosophy of focusing on sustainable segments that will also play a key role in determining how we live and work in the future.”
To date, AIF Capital Group has been particularly active in the areas of healthcare and social real estate, basic retail (grocery and drug stores), parking garages and underground garages, and daycare centers. With the recently established AIF Infrastructure, the group has added sustainable and digital infrastructure assets, such as onshore wind, to its investment and product range. The living quarter fund expands the investment spectrum by another promising topic area, in which the team around Christian Holz, Sven Eggers and Daniel Wolf has many years of experience.
Source: Immo-Pro-Invest GmbH
About AIF Capital Group
AIF Capital Group is a real estate manager and specialist in regulated alternative investment funds for institutional investors. As investor, trustee, KVG with BaFin license and asset manager, the company offers investors high-yield and sustainable real estate investments. The company is a member of the ECORE and ICG sustainability initiatives and is a signatory of the UN PRI. The group of companies was founded in 2006 in the private bank Ellwanger & Geiger and was fully acquired in 2017 as part of a management buyout. The company pursues the goal of making classic real estate asset management innovative and dynamic, while offering a high quality of service. The group employs 43 people, has equity of 5.6 million euros and currently manages assets (AUM) worth around € 1 Billion.