SynVest German RealEstate Fund N.V.
Managed by SynVest Fund Management B.V.
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SynVest German RealEstate Fund N.V.
Key Statistics
Fund Size
€322.9M
Target Return
9.9%
Launch Year
2011
Min. Investment
€2,500
Availability
Open for public
Structure
N.V. (open-end investment company with variable capital)
Product Category
Open-end
Domicile
Netherlands
GP Type
Single
Liquidity Level
Low (5+ years)
Management Fee
1.2%
Carry
20% of fund return above 6% (variable fee)
Hurdle Rate
6%
ISIN
NL0011821350
Currencies
EUR
Investor Eligibility
Retail
Liquidity Options
Monthly subscriptions
Highlights
Key Information Document (KID) – EU Funds
KID Risk Indicator
6 out of 7
Annual Returns (KID Scenarios)
Moderate
4.3%
Favorable
9.9%
Average Total Cost Level (KID)
18.4%
Allocations
Geographic Focus
Investment Strategy
Industry Focus
Historical Performance
Information about fund
About the SynVest German RealEstate Fund
The SynVest German RealEstate Fund N.V. is an open-end, non-listed Dutch investment company with variable capital that has invested directly in German real estate since 1 November 2011. The portfolio consists mainly of retail properties, residential units and offices, supplemented by healthcare and other property, spread over 86 properties across German federal states including Nordrhein-Westfalen, Mecklenburg-Vorpommern, Niedersachsen and Sachsen. The manager, SynVest Fund Management B.V., holds an AFM licence within the meaning of article 2:65 Wft; IQ EQ Depositary B.V. is the AIFMD depositary. Realised fund returns ranged from 10.50% (2016) to -7.10% (2023), with -5.28% in 2024 and -0.01% in 2025; the certificate price declined from EUR 45.25 in early 2023 to EUR 33.75 in September 2026. Past performance is no indication of future results.
Key Figures (September 2026)
Balance-Sheet Total
EUR 322.9m
Per the September 2026 factsheet
Properties
86
Across German federal states
Loan-to-Value
57.26%
Maximum leverage 70% of purchase value
Advance Dividend
2.0%
Per year at the current price (2026)
Investment Strategy
The fund aims for income from letting German property, using mortgage financing, supplemented by value growth. Properties are selected on location, quality, lease terms and tenant covenant, with a guideline gross initial yield of 6%-8% at acquisition. Measured by sector, the portfolio was allocated as follows in September 2026:
- Retail — 65%
- Residential — 15%
- Offices — 8%
- Healthcare — 8%
- Other — 4%
Terms
| Minimum participation | EUR 100 per month or EUR 2,500 one-off |
| Entry costs | None |
| Management fees | 0.3% management + 0.9% asset management of the balance-sheet total (1.20% combined per year) |
| Performance fee | 20% of the fund return above 6% in any financial year (variable fee) |
| Ongoing charges | 9.7% of average equity (includes property costs such as maintenance and interest) |
| Distribution | Monthly advance dividend; 2.0% per year at the current price (2026), cash or reinvested |
| Legal structure | N.V. (open-end investment company with variable capital) |
| ISIN | NL0011821350 |
| Risk indicator (SRI) | 6 out of 7 (EID dated 21 August 2026) |
| Recommended holding period | Minimum 3 years |
Liquidity
Certificates are issued and repurchased monthly, but liquidity is limited. Exit costs are 9% of the trading price in the first year of holding, 7% in the second year, 5% in the third year and 2.5% thereafter. Repurchases are capped at 5% of the certificates outstanding at the start of the financial year. As at September 2026 repurchase orders exceed this 5% maximum and new repurchase orders are being executed pro rata (once per year) rather than on the usual timetable. Because of the repurchase cap it is possible that investors cannot exit, in whole or in part, for an extended period — potentially more than ten years. Prospective investors should read the prospectus and the EID.
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