Real estate funds for asset managers
Your real estate funds –
from fund launch
to administration
You take care of your real estate, we take care of all fund services
Universal Investment is a strategic partner and fund service platform for fund promoters and asset managers. With many years of experience for real estate, the Real Estate Team successfully structures and administers real estate investments in Germany and Luxembourg.
- Open- and closed-end real estate funds compliant with German or Luxembourg law, available as German institutional AIFs or master funds
- Option to contribute of properties into co-ownership fund or a German investment limited partnership
- Domestic or global structures covering various asset types and risk classes
- Support in developing a sustainability strategy, including regulatory compliance (e.g., for funds under Article 6, 8 or 9 of the EU Sustainable Finance Disclosure Regulation)
Advantages
Structuring and administration from one source
Transparency
Flexibility
Regulatory
Focus
Real Estate in Numbers
33.8
>1.800
53
>55
As of December 2024
As an independent fund services platform, we offer institutional investors a holistic service approach tailored to their individual requirements.
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Tailored Fund Conception
- Support in establishing funds and developing sustainability strategies for German-, Luxembourg- and Irleand-domiciled institutional AIFs and master funds, including tailored segments for individual asset managers, if required
- Optimal fund structuring in full compliance with regulatory requirements
- Assistance in obtaining the distribution licenses from the relevant supervisory authorities (BaFin, CSSF, CBI)
- Technical fund setup, including contract drafting (with SLAs); account opening; and coordination with depositaries
- Structured, streamlined onboarding of asset managers and investors
- Access to a broad network of experienced partners, including custodians, property valuers, ESG-consultants
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Global Real Estate Portfolio Management
- Review of portfolio strategy with a focus on regulatory/contractual fundamentals
- Review of purchase, sale, and loan agreements for international real estate investments
- Corporate investment management, including oversight of tax- and legally- optimised investment structures, and provision of managing directors
- Real estate valuation services
- Extensive network of specialised service providers, including surveyors and accountants
- Ongoing support across all aspects of real estate investing
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Professional Fund Administration
- Fund accounting: Preparation of monthly and annual financial statements, including annual reports
- Taxes: Assistance in compiling tax data and preparing tax reports
- Liquidity management: Preparation of capital calls and distributions
- Reporting: Comprehensive reporting for real estate, fund, and regulatory purposes; access to our online reporting tool PowerPortal
- Risk management: Risk controlling and stress tests
- Additional services: Coordination of required approvals from supervisory authorities and depositaries; communication and coordination with external service providers
Universal Investment supports fund promoter and asset managers with global real estate competence in implementing investment strategies by active monitoring and reviewing of transactions on all markets.
Since the launch of the real estate platform in 2011, outstanding growth has been achieved with an increase in assets under administration (AuA) exceeding 33.8 billion euros. This success story reflects the high level of our client confidence in the quality of services (as of December 2024).
From Direct Holding to Co-ownership.
Given the increasing legal and regulatory requirements – as well as the complexity of property management (e.g. the risk of “Stranded Assets) – directly holding real estate is becoming more challenging. In addition, hidden reserves cannot be utilised, and depreciation and amortisation of the properties reduce the distributable income.
One solution is to contribute properties to an open-ended domestic structure (Spezial-AIF under §284 KAGB) through a capital management company, set up as a Co-ownership fund. This model allows for the strategic optimisation of the real estate portfolio creates space for the portfolio’s optimization, whether from a balance sheet, financial, or structural perspective – all without changing legal ownership.
Transferring properties into a Co-ownership fund does not incur property transfer tax, as the investor retains ownership. The KVG (ManCo) only receives the right to dispose of the assets – including land register entry. The KVG also assumes responsibility for fund administration. In return, the investor receives shares of the Spezial-AIF, which can be recognised directly on the balance sheet – with no consolidation requirement, as per §290 of the German Commercial Code (HGB).
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