About the project
ERAM Heritage is a residential development in Pristina with a design inspired by the city's architectural heritage. The project is structured as a special-purpose vehicle (SPV) on a Sale (development) basis: develop, sell units, distribute proceeds and wind up the SPV at the end of the hold. The 5-year programme reflects a longer development cycle than the platform's shorter-cycle projects.
The project is funded on a fully equity-only basis (no senior debt), with sponsor co-investment of €2,496,000 (20% of equity) alongside €9,984,000 from external co-investors (80%). Project equity is divided into 124,800 Class B shares at €100 par value. The preferred return on this project is set at 8.5%, reflecting the longer hold and slightly higher hurdle relative to the short-cycle development projects.
Indicative co-investment terms
- Project code: ERM-2026-05
- Structure: Sale (development) — develop, sell units, wind up SPV
- Share class & price: Class B at €100 par value
- Total shares: 124,800 (Class B)
- Indicative target gross IRR: 38.5% (subject to feasibility & market conditions)
- Preferred return: 8.5% (European waterfall)
- Sponsor promote: 20% above hurdle
- Indicative hold period: 60 months (5 years)
- Minimum ticket: €1,000 (retail) · €2,500 (standard) · €10,000+ (sophisticated)
- Subscription window: 14 May 2026 – 7 October 2026
All figures above are indicative. Final terms, returns and risk factors are disclosed in the project-specific Information Memorandum prior to subscription. Past performance is not a reliable indicator of future results. Capital is at risk.