Banca Profilo, as part of the Investment Club program of initiatives called "Profilo delle Idee", has concluded the first phase of raising capital of the new real estate investment operation focused on Berlin and on the main cities of the former Germany of the East.
The business model envisages the purchase of historic townhouse buildings, their cadastral division and valorisation, and the subsequent marketing of the individual apartments. The initiative replicates a tested operating model and is in continuity with the Club Deal operations carried out over the previous three years which involved 60 investors and produced annual returns between 10% and 15%.
The operation, whose structuring took six months of work, was carried out through a Sicav-Sif of SELECTRA (Luxembourg Management Company of the FARAD group authorized by AIFM), of which Banca Profilo is a distributor, and carried out in partnership with the advisor BWG, a German group specializing in the residential real estate business in Germany.
The investment idea was presented to the market with a roadshow that took place in the main Italian cities. Profile East Germany Real Estate received expressions of interest for approximately 100 million euro but it was decided to limit the amount of subscriptions in the first closing to 76 million, by allocating the shares among those who have formalized their interest.
“With this initiative” declared Fabio Candeli, CEO of Banca Profilo, “we confirm the positioning of our business model, as attested by the 2017-19 Business Plan, on the selection and structuring of investment clubs in four areas of specialization: financial , industrial, venture and real estate.”
“I am extremely satisfied and proud of the realization of the project and of the collaboration with Banca Profilo, which consolidates our history and strengthens our role as an independent fund manager for institutional counterparties – commented Marco Caldana, CEO of the FARAD Group and of SELECTRA ManCo. With this initiative we are continuing our strategic development path in Italy by supporting important companies such as Banca Profilo in the implementation of their specialized projects" - concluded Marco Caldana.
The investors identified by Banca Profilo were assisted by the Bank's internal team, specialized in club deal operations dedicated to the Bank's customers seeking investment opportunities in the real estate sector.
