International Real Estate Capital Management has selected CACEIS in Germany to handle the depository functions for its real estate fund within the framework of the German Capital Investment Act.
The fund is a closed-end mutual-alternative investment fund investing in multi-storey car parks in the Netherlands.
The Berlin-based Bouwfonds Real Estate Investment Management Deutschland is acting as asset manager.
Bouwfonds launched closed-end funds up until 2013, since the Capital Investment Act came into force, the company has been using the platform of the Hamburg-based IntReal for this purpose.
IntReal also launched the most recent car park fund for private investors.
Michael Schneider, managing director of IntReal, commented: “As an independent service platform, we are pleased to work with CACEIS as additional depository.”
