Blominvest property fund
targets European markets

To cash in on euro depreciation

Blominvest Bank will launch a $20 million real estate investment fund, this summer, targeting the real estate sector in Europe.

“The fund is exclusively dedicated for Lebanese High Net-Worth Individuals residing in Lebanon and interested in real estate investment opportunities in the European markets,” said Georges Abboud, Head of Private Banking at Blominvest. “It is the right time to launch this fund in the light of the depreciation of the euro rate against the US dollar and the low interest rates of both the euro and US dollar being at historical levels,” he said.
The fund will invest directly in real estate ready properties. “We are targeting two to six deals, and will be focusing on France, United Kingdom, Germany, Spain, Italy, and maybe other northern European countries,” said Abboud.

The lifetime of the fund will be between five to six years. “The fund will start investing in the first two years, and then each investment will have a lifetime of three to four years,” said Abboud.

The minimum subscription for each investor in the fund is $250,000. “The targeted Internal Rate of Return is 12 percent, including yields of four percent to six percent per year to be distributed to investors,” said Abboud.

The fund’s manager is Quilvest, a global, independent wealth manager and private equity investor, with a presence in Europe, the Americas, Asia, and the Middle East. “The fund will count on Quilvest expertise to invest in real estate properties like logistics, offices, retail, and student housing, among others,” said Abboud.