Dutch property investor ECC Invest said on Thursday it plans to launch a property investment fund on the Dutch market. The Polish Residential Fund I will invest in two large-scale residential projects under development by parent company ECC Group. The first is a modern apartment complex inn Warsaw, while the second is a luxury housing development on the outskirts of Poznan. ECC Poland is supervising both projects.
Dutch property investor ECC Invest said on Thursday it plans to launch a property investment fund on the Dutch market. The Polish Residential Fund I will invest in two large-scale residential projects under development by parent company ECC Group. The first is a modern apartment complex inn Warsaw, while the second is a luxury housing development on the outskirts of Poznan. ECC Poland is supervising both projects.
The total investment volume of the fund will be EUR 66.5 mln and the projects will be financed through a mix of equity, debt finance and the interim proceeds from sales. The equity component is EUR 12 mln, raised through the issue of new shares. ECC itself will be buying at least 5% of the placement, the company said. ECC Poland will take 10% stakes in both project companies.
ECC expects the fund to generate a return of 14%, after the performance fee, over four years.
