The products on this website are aimed exclusively at institutional investors; distribution to private investors is not permitted.

This overview does not constitute investment brokerage or investment advice, legal or tax advice, or an offer or solicitation of an offer to buy or sell shares in the listed investment assets. Only the legally required sales documents of the listed investment assets are authoritative. The purchase of units is only possible on the basis of the statutory sales documents, which can be obtained from d.i.i. Investment GmbH at the contact details provided below. An essential part of these sales documents is the information document pursuant to Section 307 of the German Investment Code (KAGB), which contains information on the fund product in question, in particular information on risks, structure, any sales restrictions and relevant tax matters, as well as the so-called “key investor information”, if applicable. The information does not replace legal and/or tax advice tailored to the investor’s individual circumstances, taking into account his or her financial, tax and legal circumstances.

Please note that past performance is not a reliable indicator of future performance.

d.i.i. Investment GmbH, as of August 2023

Risk information
Investors participate in the assets and earnings (profit and loss) of the Investment Company in accordance with their participation quota within the framework of the contractual agreements. In addition to the opportunity for income in the form of payouts, investing in the Investment Company also entails risks of loss. The following risks may adversely affect the performance of the investment fund and thus the investor’s income.

The risks described may occur individually or cumulatively. In the event of negative performance, this may lead to a partial or complete failure of the investor to receive the forecast payouts and to a partial or complete loss of his capital contribution.

The investor’s maximum risk consists of a complete loss of his capital contribution plus futile expenses for incidental costs and the additional risk to his other assets due to tax payments to be made plus interest, compensation and payment obligations to third parties, the Investment Company, the shareholders and the other investors, as well as due to payment obligations from any personal third-party financing of the share in the Investment Company that may have been concluded. This may lead to the investor’s insolvency.

Risks of negative performance) Market risks)

In addition to the risks arising from fluctuations in the market value of assets in the mutual fund, special risks are associated with real estate. These include vacancies, rent arrears, and rent defaults, which can result from changes in the quality of the location or the tenant’s credit rating, among other things. This can lead to a reduction in the value of the property.

Changes in site quality may result in the site no longer being suitable for the chosen use. The condition of the building may necessitate maintenance expenses that are not always foreseeable (cf. notes on operational risks). Possible changes in tax law may affect the income from the property.

Credit risks

The AIF finances the property partly with debt capital. This debt financing must be serviced regardless of the AIF’s income situation. If the company is not able to fully meet its obligations from the long-term debt financing, such as interest and repayment, this may lead to a disbursement block. In addition, the financing bank has the right to demand further collateral customary in banking or to terminate the loan and declare it due and payable and, if necessary, to initiate foreclosure proceedings. Debt financing increases the profitability of the AIF if its performance is positive; if it is negative, the ongoing interest and redemption claims result in the equity of the AIF being consumed more quickly (“leverage effect”).

Insolvency risk, lack of deposit protection

The AIF may become insolvent or overindebted. Lower income and/or higher expenses than forecast may lead to liquidity bottlenecks for the investment company and to payment difficulties, including its insolvency, as the AIF does not belong to any deposit guarantee scheme.

Counterparty risks

There is a risk of premature liquidation or even insolvency of the AIF if the limited liability capital cannot be placed and the placement guarantor does not fulfill its obligation under the placement guarantee.

There are risks with regard to the fulfillment of lease obligations, rental income (insolvency of the tenant) as well as follow-up leasing and a possible vacancy.

Furthermore, there is a risk that one or more tenants may assert rent reductions or rights of retention due to defects in the property or external influences from the environment and/or surroundings, or may terminate the lease agreement in full, and that extrajudicial or judicial disputes may arise in this regard.

There is a risk that the investment property will not be ready for acceptance by the time it is handed over and that the purchase agreement will therefore not be executed on time. Furthermore, there is the risk that the seller does not fulfill his contractual obligations. This may lead to the reversal of the AIF.

Operational and tax risks

Property-specific risks, such as unforeseeable construction defects and contaminated sites, may lead to a reduction in the value of the property.

Conflicts of interest (e.g. due to capital and personnel interdependencies of the KVG and the investment company as well as the shareholders and also outsourcing companies) may lead to disadvantageous decisions for the investors.

Key persons (members of the management of the investment company and/or key employees of the KVG) may drop out or fail to perform their duties fully and properly.

Changes in the tax, legal and/or regulatory framework in Germany (possibly also with retroactive effect) as well as unforeseen actual developments may have an adverse effect on the results of operations or the value of the investment fund.

Shareholder risks

The present offer is a long-term entrepreneurial investment. Redemption or ordinary termination of the shares during the term of the Investment Company (including any extensions) is excluded. The transfer of or other disposal of share(s) is only possible to a limited extent and requires, inter alia, the consent of a Managing Partner. There is no regulated market for the sale of units in the Investment Company; a sale of the unit is therefore only possible via a secondary market, if such a market exists.

Investors can initially only participate indirectly as trustors via the trustee; a limited partner is directly liable to the creditors of the AIF up to the amount of its liability entered in the commercial register (1% of the limited partner’s contribution).

If the investor has paid in at least the amount of this liability, personal liability is excluded.

The investor’s liability may be revived if the investment company makes disbursements to the investors that are not covered by corresponding profits and the investor’s capital contribution thereby falls below the amount of the liability sum entered in the commercial register.

In addition, there is a risk of liability of the investor towards the AIF to the extent that the investor has received payouts which are not covered by corresponding profits of the AIF and as a result leads to an undercapitalization of the general partner of the AIF (“internal liability”). The liability in the internal relationship is not limited to the liability amount entered in the commercial register.

Investors are not obliged to make additional contributions, nor can they be obliged to do so by shareholders’ resolution.

The investors bear the risk of insolvency of the AIF. By acquiring a share in the investment company, the investor enters into a long-term commitment. He should therefore include all possible risks in his investment decision.

These cannot be fully and conclusively explained here. A detailed description of the risks can only be found in section 5 “Risk Warnings” in the Sales Prospectus.

Risk of changes in the legal situation in connection with the ESG criteria:

With regard to the integration of ESG criteria into the investment strategy of the AIF, it should be noted that the legal situation is undergoing significant change. This relates in particular to the regulatory framework of sustainable investments, which results primarily from Regulation (EU) 2019/2088 (“Disclosure Regulation”). The Disclosure Regulation contains a large number of transparency requirements.

Further specifications are currently being defined by the legislator and could not yet be taken into account in the sales prospectus. Due to new legal requirements in this respect, the investment strategy of the AIF may have to be adjusted. Furthermore, it cannot be ruled out that the AIF does not or no longer fulfills the requirements of an ESG strategy product pursuant to Art. 8 Disclosure Regulation due to changed legal requirements.