Investment fund that invests in developed and undeveloped real estate as well as in participations in and claims against real estate companies.
Can be further subdivided into:
— open-ended real estate funds = unlimited number of buyers. The money received from investors is invested in predominantly commercially used land, buildings and own projects in accordance with the principle of risk diversification.
— closed-end real estate funds = limited number of buyers. This usually involves a specific property. The fund is considered closed when the targeted capital has been subscribed.