22 September 2023
MIMCO Capital launches “Everest One”, a fund focused on real estate revitalization in Germany

The MIMCO Capital team is excited to announce the launch of its new "Everest One" fund.

"For several years now, we have observed that a significant number of fund managers and private owners have been treating real estate solely as financial assets. This interpretation is the result of a lack of knowledge of the real estate industry." Bernd von Manteuffel, co-founder of MIMCO Capital, explains that "these different players have small teams to manage large volumes of assets or prefer to delegate this task to third parties, which implies a dispersed control of the value chain."

In this context, our experience of the German real estate market and our analysis of its evolution, as well as its current trends, allow us today to anticipate new opportunities. Our primary aim is to create value by bringing real estate back into line with the market in a revitalization process.

Mastering the real estate value chain

MIMCO Capital's team integrates asset management and property management skills with an in-depth knowledge of the German real estate market. This is what makes its uniqueness and strength today. Indeed, very few players hold the entire chain of real estate activities, from sourcing to asset management and property management. It is this combination of skills that enables MIMCO Capital to master all the stages of revitalizing a real estate asset, an approach that requires a great deal of expertise.

Revitalizing with a desire to maximize value 

The main objective of the new Everest One fund is to build up a real estate portfolio in Germany through investments focused primarily on commercial and office real estate. With our desire to revitalize real estate that is not optimized for current uses and by relying on a perfect mastery of the real estate value chain, MIMCO Capital intends to offer its investors exclusive opportunities.

"We invest in real estate assets that generate a minimum income and offer real potential for revitalization", explains Bernd von Manteuffel. "We offer our investors the benefit of privileged sourcing thanks to our recognized expertise in this industry. Our positioning in Germany gives us access to rare and quality assets even before they are put on the market. Thanks to our reputation, we benefit from arbitrages carried out by international investment funds, banks or family offices, private owners, but also from opportunities through bank liquidations, auctions and estate splitting. We select assets considered as "value-added" assets with potential for value creation."

A demanding and efficient acquisition policy

In order to pursue this strategy and to meet the expectations of our investors, MIMCO Capital is launching a new fund called "Everest One", in the form of a Luxembourg SICAV, falling into the category of Alternative Investment Fund "FIA". The term of the fund is 8 years with an opening to inflows over 4 years, until 2023.

"The target size of the fund is 300 million euros over a 5-year investment period. We are taking the decision to control our annual acquisition rate with a strong desire to be more efficient and demanding in the selection of investments. This type of fund is suitable for investors looking for the performance and value redistribution of closed funds, while having the possibility of exiting before the end of the term. A better return and more flexibility", says Christophe Nadal, co-founder of MIMCO Capital.

Quarterly dividend distribution 

Everest One plans to pay a quarterly dividend, with an annual target of 5%. In addition to the dividend, a method of annual capital appreciation is used to provide investors with visibility on the evolution of their position year after year. The annual return objectives (calculated net of entry fees) are between 7 and 8% depending on the number of years held.

For professional investors in Europe

Investors will benefit from a 0% entry fee for the year 2019. Exit conditions have been put in place from 12 months of holding with degressive exit fees up to 0% from the 6th year. The Everest One SICAV may be held within Luxembourg life insurance contracts in the form of FID or FAS.

This fund is aimed at Family Office, asset management, IFAs and private banks in Luxembourg, France, Switzerland, Belgium and Monaco. Everest One is aimed at professional investors within the meaning of the 2014/65/EU – MiFID II directive and informed investors within the meaning of Luxembourg law. Investors should be aware of the risks of capital loss and seek advice from authorised professionals.

The MIMCO Capital team is at your disposal for any further information you may require.

Find us on www.mimcocapital.com and follow our news on Linkedin and Twitter.

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