New investors sign up for Optimum's new Berlin core-plus fund

Luxembourg-based boutique real estate investment manager Optimum Asset Management has completed a €100m secondary transaction with new investors into Optimum Evolution Fund SIF – Property II, which is invested primarily in well-located real estate in Berlin.

The new investors into the fund include Helaba Invest, Neuberger Berman Private Equity and Blackstone's Strategic Partners Fund Solutions, as well as other major EMEA and US institutions.

Property II was launched in 2011 and initially raised €200m in equity commitments from institutional investors. The Luxembourg-based fund is focused on core-plus residential and commercial properties in Berlin.

Optimum said the previous group of investors have realised a profit of more than 70%, based on the fund’s reporting net asset value as of 30th June 2017.

According to Christian Schulte Eistrup, managing director at Optimum Asset Management, "We are very pleased to have attracted further investors of such a high standard, it was important to us to find partners with the right credentials and a demonstrable interest in accessing the Berlin real estate market. Thanks to the quality of this portfolio, it has been a seamless transition to this new group.'