News

IQ-EQ supports SITNO HOLDING Real Estate with its maiden fund launch

IQ-EQ has been appointed by central European real estate developer SITNO HOLDING Real Estate to provide a comprehensive suite of support services for the launch of its first Luxembourg fund.

SITNO HOLDING Real Estate (SHRE) is a European real estate developer with offices in Luxembourg, the Czech Republic, Slovakia, and Croatia. The company has almost 20 years of experience building new developments and operating hotels in the CEE region. SHRE manages assets worth €129 million and is currently developing LIOQA Resort on Ugljan Island in the Zadar archipelago.

Harnessing IQ-EQ’s tailored, end-to-end support for first-time fund managers, SHRE has now launched its first real estate fund, the SHRE SITNO Adriatic Investment Fund, which is targeting a raise of €100 million to invest in eight real estate development projects in Zadar, Croatia.

The fund is a Luxembourg special limited partnership (SCSp) reserved alternative investment fund (RAIF), regulated under the EU’s Alternative Investment Fund Managers Directive (AIFMD). Led by Tamas Mark, Head of Real Estate for Luxembourg, IQ-EQ’s Luxembourg team will provide central administration, GP, depositary, third party AIFM, marketing and distribution services to the fund.

Vedrana Likan, Board Member of the SHRE SITNO Adriatic Investment Fund, commented:

“We are delighted to have launched our very first real estate fund with help from IQ-EQ. We really appreciate the Luxembourg team’s in-depth real estate expertise as well as their step-by-step guidance and clear understanding of our specific needs and challenges as a first-time fund manager. With their support, we are excited to progress our fundraising efforts and drive investment in Croatia, which is one of the most sought-after destinations in the tourism, finance and energy sectors and offers strong domestic demand for real estate development.”