About aya

AYA Properties Fund is a real estate investment fund focused on the central and European market. The fund was erected in 2021 and concentrates on high quality and sustainable real estate assets (offices, logistics, residential, etc.) on AAA-locations with top-tier tenants.

An overview

Fund

AYA Properties Fund, BV, AICB

AICB set-up

€ 15M Equity (AICB) - secured

€ 15M Bond Issue, Tranche 1

€ 20M Bond Issue, Tranche 2

Duration

The fund is established for a duration of 18 years

Investment objective

Acquiring/managing qualitative real estate assets
Focus on offices and (food) retail
Yielding attractive and recurring income

Geography

Eastern-Europe, min. 50% Romania

Leverage policy

Max 65% LTV

Diversification

Max 35% of Commitments per Asset, Max 50% per Asset Class (as of full portfolio built-up)

Manager

Manaya BV

Reporting

Yearly NAV

Partners

Deal sourcing and advisory: Speedwell
Property management: Proximus

Fund structure

Assets will be divided into ‘niche’ verticals; each investment will be placed in a separate SPV. Assets (SPV’s) can be sold separately, or – dependent on the potential buyer – grouped per segment.

Primary focus on offices and (food) retail.

AYA Properties Fund

AYA Properties Fund intends to raise €50M, which will be deployed in the Eastern Europe real estate market by acquiring high quality and income generating assets. The mid term objective is to become an evergreen and sustainable REIM with a sizeable portfolio using a mix of equity and debt financing.

Equity has funded AYA Properties Fund (AICB) with €15M:

The number of LP’s is initially being held to 2 reputable family offices
Equity to be used for the Acquisition of First Asset(s): target size of €40M
65% LTV – 35% Equity
LOI Signed for BREEAM office building

Subordinated loans

€ 15 M trough a Private Placement (BE)

Max. 150 tickets of min. € 100k each
3 ‘subtranches’ with different maturities and interest rates with yearly cash distribution

Second bond (tranche 2)

€ 20 M trough a Private Placement (BE)

Max. 200 tickets of min. € 100k each
3 ‘subtranches’ with different maturities and interest rates with yearly cash distribution

Investment focus

GEOGRAPHY

Primary focus on Romania (Bucharest and regional cities)
Secondary focus: Hungary, Bulgaria, Greece, Slovakia

ASSETS

Upper-mid to High-end Quality
Triple AAA location, BREEAM Certified
Focus: office and (food) retail