IQ-EQ, the Luxembourg-based investor services provider, has been appointed by central European real estate developer SITNO HOLDING Real Estate (SHRE) to provide support services for the launch of its first Luxembourg-domiciled real estate fund. The SHRE SITNO Adriatic Investment Fund, which is targeting a raise of EUR100m (USD107m), will invest in eight real estate development projects in Zadar, Croatia. The fund is a Luxembourg special limited partnership (SCSp) RAIF, regulated under the EU’s AIFMD. IQ-EQ’s Luxembourg team will provide central administration, GP, depositary, third party AIFM, marketing and distribution services to the fund.
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 EUR129m (USD138m).