Frankfurt Mezzanine Fund
Real estate projects enjoy increased attention as an asset class. Finished real estate usually offers only low returns. By contrast, attractive returns on equity can still be achieved with the production of real estate (project development).
The objective of the fund is to build a diversified portfolio of project financing in the real estate sector in order to generate above-average positive returns and long-term capital growth. Financing the acquisition of land for project development as well as purchases of real estate in Germany and Switzerland are at the center of its activities. The Frankfurt Mezzanine Fund acquires bonds issued by the respective project companies. The bonds have an average term of 12 to 36 months. The fund vehicle is an alternative investment fund (AIF).
Critical to investment success in private markets is access to attractive opportunities that are often not known in the broader market. Financing is reviewed on the basis of a multi-stage process. This starts with the valuation of the current property and portfolio values using the net asset value and capitalized earnings value methods and on the basis of comparable properties. Within the framework of this evaluation, the analysis of the building law situation represents a significant factor. In the second step, this is checked for development potential. Optimization potentials within the framework of existing development plans are analyzed as well as possible possibilities for the creation or optimization of building rights.
As part of a market analysis, the next step is to work out what market prices can be achieved for the projected areas. Both current market values are considered and risk assessments for potential developments during the project term are made. As soon as these object-specific criteria have been answered positively, the respective track records of the service providers and companies involved (architect, project developer, construction companies) are subsequently examined.
Portfolio and performance
LeanVal Asset Management AG
60313 Frankfurt am Main
CAIAC Fund Management AG, Haus Atzig, Industriestrasse 2, FL-9487 Bendern
Kaiser Partner Privatbank AG, Herrengasse 23, FL-9490 Vaduz
Class EUR 43542897
Class EUR LI0435428979
Per share: EUR 1,000.00
up to 0.20% p.a.
up to 0.20% p.a.
up to 1.50% p.a.
9% with High Watermark
Fund platforms and points of sale
The fund can be subscribed at the usual points of sale. For qualified / professional investors only.