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Germany's Fair Value REIT eyes repeat of fund certificate swap, direct acquisitions
Munich-based Fair Value, one of only two German REITs, intends to boost its asset base by adding direct holdings or increasing participations in closed-end property funds, a strategic element that the firm used at foundation. "We started our business by exchanging shares for ownership in closed-end property funds," CEO Frank Schaich told PIE. "Our business model really takes participations in closed-end funds as a strategic element." However Fair Value may also use market opportunities to boost the second element of its balance sheet - direct investment in office, logistics and retail properties in German regional centres.