DERECO in Cologne has founded a company for buying Dutch real estate in a joint
venture with the Dutch Europan Real Estate Fund (EREF B.V.) in Bilthoven. The objective of the company is to organise the exclusive purchase of Dutch real estate for closed public funds on behalf of German issuing houses. Also, the possibility of initiating a closed fund of their own is currently being scrutinised. Apart from purchasing and selecting properties and the research services connected with this, the company organises the legal, tax-related and technical investigation as well as the acquisition of external financing. At present, apart from market conditions, the company is analysing suitable properties in the Netherlands for a German issuing house. The first fund is already expected to close at the beginning of 2010.

Together with the general manager of the Europan Real Estate Fund (EREF B.V.), Mark Kraaijeveld van Hemert, Tassu M. Degen is now also offering a strong presence on the Dutch market with his DERECO. For several years, Mark Kraaijeveld van Hemert held a top position with DTZ Zadelhoff and, following this, was a director for the fund business of MPC Capital in the Netherlands. In 2006, he founded the enterprise Europan Real Estate Fund B.V. that so far has initiated closed-end funds in Germany for Dutch investors. DERECO has already been active in this connection as an exclusive consulting company. For 2010, the Europan Real Estate Fund (EREF B.V.) is again planning a new closed-end public fund with German properties. DERECO is already scrutinising the first offers.