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NEW Germany 2026 market outlook — read the briefing →

M24 Sunshine
FOR INVESTORS

Co-invest in vetted European real estate.

Institutional-grade governance, Luxembourg-domiciled structures, and direct access to our active mandates. Minimum commitment €500k; typical co-investment tickets €1m–€10m.

We fit your mandate if you…

Four lines. Self-qualify.

01

Seek 18–24% net IRR from European RE equity

02

Have ≥€500k to commit per deal

03

Understand Luxembourg SCSp / SIF structures

04

Are an accredited / professional investor

Investment approach

Strategy. Structure. Governance.

01

Strategy

Disciplined bias to ready-to-build assets with secured permits and credible exit paths. We avoid early-stage land plays and emerging markets. Every deal passes a four-point test: location, counterparty, capital-structure clarity, and realistic exit.

02

Structure

Luxembourg SCSp feeder with co-investment rights. LPs receive direct exposure to each deal SPV, not pooled fund risk. Minimum commitment €500k; typical co-investment ticket €1m–€10m. Carry is crystallised per deal.

03

Governance

Quarterly financial reporting, annual audit (Big Four), LP Advisory Committee with reserved matters, and transparent fee reporting. No opaque transaction fees to related parties. SFDR Article 8 alignment; CSRD-ready.

€73m+
Across active mandates
22%
Average investor IRR
31 months
Average project duration
4
Jurisdictions · DE · LU · UK · FR
Selected deals

Four active mandates.
Real returns.

View all
Berlin
Mixed-use
Planning
Berlin · Germany

Berlin — Residential + Medical

Cost
€25m
ROI
22%
IRR
20%
Mixed-use · 36 months
Munich
Mixed-use
In construction
Munich · Germany

Munich — Residential & Commercial

Cost
€24m
ROI
28%
IRR
23%
Mixed-use · 30 months
Reckenthal
Co-living
In construction
Reckenthal · Luxembourg

Reckenthal — Co-living

Cost
€13.2m
ROI
33%
IRR
21%
Co-living · 36 months
Stuttgart
Residential
In construction
Stuttgart · Germany

Stuttgart — Residential

Cost
€11m
ROI
38%
IRR
24%
Residential · 30 months
FAQ

Investor questions.

Accreditation, fees, reporting, redemption, tax residency. If you need more, request the deal book below.

  • 01 What accreditation do you require?
    Professional or accredited investor status per MiFID II / AIFMD. We cannot accept retail capital. We verify accreditation before sharing the deal book.
  • 02 What are your fees?
    Management fee 1.5% on committed capital during deployment, 1.0% on net invested post-deployment. Performance fee 20% over an 8% preferred return with full catch-up. All transaction fees go to the SPV, never a GP affiliate.
  • 03 How often do you report?
    Quarterly investor reports with project-level NAV, progress notes, and capital account statements. Annual audited accounts. Semi-annual LP calls. Ad-hoc material event notifications within 48 hours.
  • 04 What are the redemption terms?
    Closed-ended, deal-by-deal liquidity. Exit at project stabilisation or sale typically 24–36 months from first drawdown. We do not offer interim redemptions — liquidity comes from deal completions.
  • 05 Any tax-residency considerations?
    Luxembourg SCSp is tax-transparent. LP tax treatment depends on your own jurisdiction. We work with your tax advisor and provide the standard K-equivalents (ISR / PTR / CRS) required by most European and US residents.
Request the deal book

Access the current pipeline.

Qualifying investors receive the active deal book within one business day. Includes structure summaries, financials, and sensitivity tables.

Accreditation status *
Geographic interest
GET ACCESS

Request our current deal book.

Stay informed

Market notes from our desk —
monthly.

Short, sharp briefings on European real-estate equity flows, Basel IV, and deal structure. No fluff.

  • i Capital flows and equity structure across Germany, UK, France, Spain, Luxembourg.
  • ii Regulatory notes — Basel IV, CSRD, SFDR — what actually matters to deal structure.
  • iii Select case notes from our ready-to-build pipeline.
Ships month-end ~8 min read
ISSUE 18 · APR 2026
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