Shore Capital has announced the first close of Brandenburg Realty, which was established to invest in German residential real estate. Shore Capital itself has made a €12.5m commitment to the vehicle, which will focus on acquiring well-located, high quality residential buildings in major German cities, and in particular Berlin. The first close has raised €135m from institutional investors and family offices, most of which are based in the United States. Shore Capital, which will provide advisory services to the fund, expects a further close to take place in three months which would raise maximum commitments of €250m.
