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Weinberg Capital announces the closing of Weinberg Real Estate Partners #1 at 85 million €
Weinberg Capital announces the closing of Weinberg Real Estate Partners #1 at 85 million €
Paris, March 15, 2010,
Weinberg Real Estate Partners #1 (WREP#1), a real estate fund advised by Weinberg Capital, has closed its subscription period with total commitments of €85 million from French and European institutional investors. WREP#1 will be able to invest up to €250M.
The fund's main purpose is to acquire office and commercial assets. It has also set up the OPCI "Capital Pierre Santé Retraite" a French property investment trust dedicated to healthcare and senior housing. The fund's first investments are currently under closing.
In February 2009, Weinberg Capital obtained approval from the French market authority, (the "Autorité des Marchés Financiers") to manage OPCI RFA. OPCI RFA are regulated tax efficient investment vehicles dedicated to qualified investors.
Laurent Halimi, partner in charge of the real estate investments at Weinberg Capital said: "We are very pleased with this fund raising from top tier French and European institutional investors. Thanks to the LBO and real estate expertise of our management company, we have analysed many investment opportunities in commercial and operational real estate. We target assets ranging from 10 to €40 million. The launch of an OPCI fully dedicated to healthcare and senior housing should allow us to close shortly our first investment in this sector."
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