A German insurance company has backed FAP Group’s real estate debt fund with a commitment of 50 million euros.
The FAP Group said the unnamed insurer’s capital is the largest individual investor’s investment in the FAP Balanced Real Estate Financing I Fund, and is increasing the capital of the mezzanine fund to more than € 200 million.
Hanno Kowalski, Managing Partner of FAP Invest, said: “In line with the commitments of the largest individual investor to date, we expect further capital inflows of around € 50 million in the third quarter. Lending activity is also inevitable: we are currently finalizing double-digit millions of loans. ”
FAP Balanced Real Estate Financing I Fund was launched at the end of 2018 to provide subordinated capital for existing real estate, rehabilitation and development projects in Germany.
The manager said that the main mezzanine has allocated more than 80 million euros in volume in recent months.
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