UNIQA Real Estate Launches €600M Office Fund in CEE

UNIQA Real Estate Management GmbH has launched the UQA Real Estate Fund, a closed-ended real estate fund designed for institutional investors.

The fund will invest in Core and Core Plus office properties across Europe, with a geographic focus on Austria, Poland and the Czech Republic.

The launch marks a further step in UNIQA Real Estate's plan to open its investment and management platform to third-party investors.

The platform was previously dedicated to managing real estate investments for the UNIQA Group.

Fund Targets Core and Core Plus Office Properties

The UQA Real Estate Fund will follow a conservative investment strategy focused on office properties in central urban locations. Target assets will be located in liquid markets and within established transaction sizes.

Sustainability criteria and building certifications will form part of the fund's investment criteria.

The strategy expects value creation to come mainly from active asset management and rental growth in prime locations.

€600 Million Target Volume

The fund is targeting a total volume of €600 million, including €300 million in expected equity commitments. Leverage may reach up to 50% loan-to-value.

The minimum investment commitment is €10 million per investor. The fund will have an initial term of ten years, with options for extensions.

The fund is structured as a Luxembourg SCSp in cooperation with an external AIFM. It is classified as an Article 8 fund under the Sustainable Finance Disclosure Regulation.

Focus on Austria, Poland and Czech Republic

Austria, Poland and the Czech Republic are the fund's primary geographic markets.

According to UNIQA Real Estate, office market conditions in central locations have created new entry opportunities following the market correction of recent years.

Thomas Erdmann, Managing Director of UNIQA Real Estate Management GmbH, said initial yields in these markets have increased by up to 250 basis points compared with peak pricing.

He also noted continued occupier demand for modern, flexible office space in major cities. At the same time, new office supply in Vienna, Warsaw and Prague remains extremely limited, according to the company.

Also Read: Panattoni Sells 150,000 Sqm Poznań Logistics Park in Poland

Institutional Investors Targeted

The fund is aimed at institutional investors and large family offices from Germany, Austria, Switzerland, the Nordic countries and Central and Eastern Europe.

UNIQA Real Estate will use its existing operational and investment experience as the foundation for the new third-party investment management business.

Also Read: UNIQA Opens €3 Billion Real Estate Platform to Investors

UNIQA Manages €3 Billion Real Estate Portfolio

UNIQA Real Estate has managed the UNIQA Group's real estate portfolio for 50 years. Its integrated platform covers key parts of the real estate value chain in-house.

The portfolio currently under management includes around 200 properties with a total value of approximately €3 billion and around one million sqm of lettable space.

The new fund extends this platform to third-party investors while maintaining a focus on office properties in established European markets.

Enjoyed this update? Visit PropTech Pulse for more real estate news, investment insights and property market trends.