Jamestown, the leading provider of closed-end US real estate funds in Germany, is launching the next closed-end mutual fund with "Jamestown Europe". With the launch of the European real estate fund, Jamestown is thus transferring its investment approach, which has proven itself over 40 years, to European mixed-use real estate in the euro area and making it accessible to private investors for the first time.
The "Jamestown Europa" rental fund is intended to build up a diversified real estate portfolio and invests specifically in primarily mixed-use properties as well as retail and office properties with value appreciation potential. It is planned to place shares with an issue volume of EUR 50 million by 31.03.2027. The fund focuses on stable economies such as Germany and the Netherlands, as well as regions with growth potential such as Spain and Portugal, where Jamestown has many years of local presence.
Private investors can participate from a minimum subscription amount of 10,000 euros plus premium. The annual distribution of 5% on the invested equity before taxes is to be generated by the current rental income. At the scheduled end of the fund term after seven to twelve years, the aim is to achieve pre-tax returns of 110% through the sale of the fund properties.
Strategic product expansion: Value enhancement through placemaking also in Europe
"With our step into Europe, we are expanding our offer without giving up our proven claim. Our first European fund for private investors marks the beginning of a new product line that offers carefully selected properties with high potential for appreciation. In doing so, we continue to rely on our decades of experience and our successful placemaking concept to create vibrant, user-oriented places and achieve the best results for our investors," says Fabian Spindler, Managing Director at Jamestown.
"Our in-house specialist teams have many years of experience in the European target markets of our new European fund – this applies to transactions as well as to our creative teams and asset managers as well as to our experts in sustainability, project management and building management. As an alternative or supplement to our continued range of US real estate funds, private investors can now round off their portfolios with European real estate investments without currency risk," Spindler adds.
First fund property already secured – mixed-use property in the heart of Berlin
The purchase contract for the first property has already been signed. This is a mixed-use property at Oranienburger Strasse 4-5, not far from Hackescher Markt in the heart of Berlin. The six-part building ensemble comprises approx. 3,947 square metres, 95% of which are currently let. About half of the space is currently accounted for by office users, especially smaller office units of 100 sqm to 200 sqm, which are particularly in demand in Berlin. In addition, there will be a quarter each for gastronomy and retail and a quarter for apartments. The multi-tenant property is thus characterised above all by its central, sought-after trendy location, the historic building character and the high-quality designed areas.
