Opening-bell ceremony was held for Avrasya Strategic Real Estate Investment Fund, which is the fund of Re-pie, Turkey's first real estate portfolio management company.
Re-pie Real Estate and Venture Capital Portfolio Management A.S., with a portfolio size close to 300 million TL provides services to 97 local and foreign investors in total, including 23 pension investment funds. The number of indirect investors reached thanks to pension funds is around 1 million 300 thousand people. Re-pie has a total assets of 2.2 million square meters with 3 real estate investment funds and 1 venture capital investment fund that are actively managed.
Avrasya Strategic Real Estate Investment Fund listed in Borsa Istanbul Equity Market for Qualified Institutional Buyers (EMQI) invests in real estate in Turkey primarily in land. Having completed the first book building in the first quarter of 2018, the Avrasya Strategic Real Estate Investment Fund aims to reach an investment of 1 million square meters by the end of the year.
Borsa Istanbul Executive Vice President Korkmaz Ergun, Ph.D. said: “As a stock exchange, we aim to be a market that gives confidence to investors trading in our stock market.
I would like to re-present Equity Market for Qualified Institutional Buyers (EMQI), a very good opportunity offered by our stock exchange to those companies that are not traded on our stock exchange.
Companies that do not want public offering but want to listed in Borsa Istanbul can be listed in Borsa Istanbul Equity Market for Qualified Institutional Buyers by issuing their shares to qualified investors.
In order for shares to be listed in Equity Market for Qualified Institutional Buyers there is no need to prepare a prospectus, the issue document is sufficient. There is also no numerical requirement for this market. We consider it sufficient if the legal status, activities and financial status of the applicant companies are positive.
Mehmet Emre Çamlıbel, Ph.D., Chairman of the Board of Re-pie Portfolio said: “We contributed to the securitization of real estate by this opening-bell ceremony. We made it possible for investors to invest in real estate via brokerage houses by listing Avrasya real estate fund in Borsa Istanbul. Our aim is to raise capital in medium and long term by investing in strategic land so that our investors gain meaningful real returns.”
Re-pie Portfolio General Manager Hasan Bayhan said: “While investing in land, Avrasya Real Estate Investment Fund will invest similar to the Re-pie Anatolian Strategic Real Estate Fund, in a number of titles, which has completed one year and has an annual return of 27%. The parcel sizes we target as 10-15 acres on average will be a significant advantage for the fund's liquidation. We expect to see substantial value increase in the medium term thanks to the investments we will make mostly in raw land and the base effect created by our lower purchase price per square meter. We are planning to invest in different cities and regions to diversify our portfolio.”