Real estate manager Empira has secured an anchor investment of more than €158m from UBS’s unified alternative investments business for its newly launched German residential strategy.
Empira said the capital from UBS Unified Global Alternatives will be deployed over the coming months to build a diversified seed portfolio across Germany for its core-plus EMPIRA German Living strategy, which has a target fund size of €350m.
The strategy focuses on the acquisition and active management of income-generating residential assets in German A-cities, as well as selected B- and C-cities.