Project development in the CEE and SEE regions and the CIS offers particularly exciting prospects for CA Immo International. Constructing buildings jointly with local partners is often the only reliable way to gain a foothold in promising new markets. These high earning opportunities are generally associated with a relatively higher risk and therefore primarily attractive to wholesale institutional investors. With the
CA Immo New Europe property fund, the company is making available to a limited group of wholesale institutional investors an innovative instrument aimed at exploiting the potential of development projects in Eastern Europe.

The fund is structured as a Société d’investissement en capital à risque (SICAR) and was formed as a Société en comandit par action (SCA) under Luxembourg law. CA Immo S.à.r.l., a wholly-owned subsidiary of CA Immo International, is it  general partner. By the end of 2006 almost 49% of the shares in CA Immo New Europe property fund had been placed with institutional investors. The remaining 51% are held by
CA Immo International. These investors seek products with a high return that develop dynamically in the long term. Accordingly
CA Immo International has set the fund an investment strategy of project development and investments in Eastern Europe, focusing on Romania, Ukraine and Serbia. An investment volume of € 1 bn is envisaged, including an own capital contribution of 40%. The fund has a term of seven years with an option for extension until 31 December 2015 at the latest.

The fund is managed by CA Immo Investment Management GmbH (IMG), a subsidiary of CA Immo International. Should the target volume of 49% not be met in full by institutional investors,
CA Immo International will keep the volume of the fund the same and subscribe the remaining interests itself in order to place them with other investors at a later date. The CA Immo New Europe property fund is not listed on any stock markets.