08 Jan Union Investment commissions Deutsche Asset One with the management of investments and assets for a new institutional residential fund
Berlin/Hamburg, Germany, 08 January 2018
- Union Investment to provide investment management platform for the management mandate
- Investor base comprises cooperative investors
- Opening volume of EUR 250 million in equity subscribed in advance
- Target volume of EUR 750 million in equity planned
- Initial acquisitions totalling EUR 200 million already concluded
Union Investment has awarded Deutsche Asset One the exclusive mandate to manage the assets and investments of its new special AIF “Wohnen Deutschland Spezial”. The new fund exclusively targets cooperative investors. The opening volume totals EUR 250 million and the intended target volume is EUR 750 million in equity. Deutsche Asset One has already implemented the seed investment through a nationwide portfolio comprising 2,200 apartments with a volume of EUR 200 million for the new special fund.
“We set up our first special fund with Deutsche Asset One in 2011. Thanks to its exclusive focus on residential property investments and its strong, well established market access, Deutsche Asset One is also an ideal partner for our new special AIF,” said Wolfgang Kessler, Member of the Management Board of Union Investment Institutional Property GmbH. As part of the management mandate, Union Investment will supply the investment management platform.
The investment profile of the special AIF “Wohnen Deutschland Spezial” comprises existing properties and new residential units throughout Germany with a focus on A and B cities as well as selected C cities close to growing major cities.
As part of its consultancy mandate, Deutsche Asset One will assume responsibility for deal sourcing, transaction management and asset management for the fund. “The acquired residential units will be placed in the experienced hands of a portfolio manager with a long-term outlook,” said Thilo von Stechow, Managing Partner of Deutsche Asset One. “The renewed mandate from Union Investment is a huge vote of confidence for us and an acknowledgement of our work to date. Since the start of the year, we have acquired 4,500 residential units in locations all over Germany for various clients.”
Read more . . .
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Deutsche Asset One GmbH
c/o RUECKERCONSULT GmbH
Dr Ulrich Nagel
Wallstraße 16, 10179 Berlin, Germany
p +49.30. 284 49 87 – 63
About Deutsche Asset One
Deutsche Asset One is part of Dupuis Investment- und Asset Management and focuses on providing investment and asset management services geared towards the German residential real estate market. Deutsche Asset One has no product portfolio of its own, rather concentrates on building up and managing the residential real estate portfolios of national and international investors – from real estate investment companies to financial intermediaries. Financial intermediaries include insurers, pension funds, schemes and associations, as well as securities deposits and foundations. Deutsche Asset One is an independent, owner-managed investment and asset management company offering its clients end-to-end real estate portfolio management in the style of a boutique investment firm. Investment volume for the years 2016 to 2018 stands at approximately 500 million euros. Investment properties include project developments and existing real estate upwards of 3 million euros in value and as a portfolio with up to 2,000 residential units. Deutsche Asset One currently manages one real estate fund worth some 540 million euros.
About Union Investment
Union Investment is a leading real estate investment manager for private and institutional investors.
Union Investment manages total assets of around EUR 30.9 billion. Established in 1965, Union Investment Real Estate GmbH is the private property investment specialist within the Union Investment Group. Its sister company, Union Investment Institutional Property GmbH, focuses on real estate investment for institutional customers. Within the commercial real estate sector, Union Investment is active as an institutional investor and asset manager. Covering over 24 national markets, its broadly diversified real estate portfolio comprises over 349 properties and projects in the office, hotel, retail and logistics segments. Approximately 61 per cent of its real estate assets are located outside Germany, 19 per cent of which are also outside Europe. Further information at http://realestate.union-investment.com/mainpage.html