ING closes property fund for central and eastern europe

ING Real Estate Investment Management (ING REIM) has raised its targeted investment volume of €1 billion for its CEE Property Fund, which focuses on real estate investments in Poland, the Czech Republic, Hungary, Slovakia, Romania and Austria.

"The Central and Eastern Europe region offers diversified investment potential for real rental growth in combination with yield compression opportunities," said said Martin Sabelko, Managing Director of ING Real Estate Investment Management Central Europe. "The ING Property Fund Central and Eastern Europe gives us access to multiple asset classes, to optimise income return and to enhance value growth through active portfolio and asset management."

With €400 million of investments expected to materialise by the end of 2007, this fund is one of a broad range of funds launched by ING REIM in October this year – with a total of €4.25 billion in assets under management.

Source: Overseas Property Professional