05 Mar Deutsche Asset One purchases 715 residential and commercial units for over EUR 300 million in and around Munich
- Acquisitions for Union Investment’s institutional funds for securities account investors (Depot A) at cooperative banks
- Prognos Zukunftsatlas 2019: Munich and metropolitan area are the strongest regions in Germany
Berlin/Hamburg, 6 March 2020 – Deutsche Asset One, an investment specialist for residential real estate throughout Germany, has acquired approximately 715 residential and commercial units worth over EUR 300 million from MEAG in the city of Munich and the district of Munich. The properties will become part of various institutional open-ended real estate funds of Union Investment that are aimed exclusively at cooperative securities account investors (Depot A). The seller was advised by BNP Paribas Real Estate GmbH; Deutsche Asset One was advised by Noerr LLP and Drees & Sommer. Deutsche Asset One is again planning an investment volume of approximately EUR 500 million this year.
“Thanks to our very good local market access throughout Germany, we can also acquire suitable properties in good condition for our clients in particularly sought-after regions, such as Munich and the surrounding area,” says Thilo von Stechow, managing partner at Deutsche Asset One. “We are pursuing a long-term and sustainable strategy with all our properties. The careful and cautious treatment of tenants and property maintenance for a quality of life throughout the city are becoming increasingly important in transactions in the residential sector.”
Bavaria’s state capital and the district of Munich are considered to be the regions in Germany with the highest growth prospects. A total of 10 of the 30 DAX corporations have their registered office in Munich, and the city expects population growth of around 20 per cent by 2035. According to the city administration, the current average purchasing power in Munich is just under EUR 32,900 and thereby clearly exceeds other major cities in Germany (Hamburg: EUR 26,200, Stuttgart: EUR 25,500). The part of the district of Munich on the southern edge of the state capital ranked in the top four in the categories of employment market, innovation and prosperity in this year’s Prognos Zukunftsatlas. Of the 401 districts and cities studied, Munich and the district of Munich achieved the highest rating alongside only eight other districts and cities.
Bernhard Kraus, managing director of Union Investment Institutional GmbH, says: “The purchases made for institutional real estate funds in proprietary investments for our cooperative banks once again prove the expertise of Deutsche Asset One in the nationwide residential market. We look forward to expanding our proven partnership further.”
Deutsche Asset One GmbH
c/o RUECKERCONSULT GmbH
Dr Ulrich Nagel
Pantaleonswall 27, 50676 Cologne, Germany
Tel.: +49 (0)221 292956-30
Union Investment Institutional Property GmbH Deutsche Asset One GmbH
Fabian Hellbusch Geschwister-Scholl-Str. 5, 10117 Berlin, Germany
Valentinskamp 70, 20355 Hamburg, Germany Tel.: +49 (0)30 2790 7910
Tel.: +49 (0)40 (34) 919-4160 Email: firstname.lastname@example.org
Email: email@example.com Website: www.deutscheassetone.com
Deutsche Asset One
Deutsche Asset One offers investment and asset management services with a focus on residential properties in Germany. In doing so, Deutsche Asset One does not issue its own products, but rather concentrates on building up and managing residential property portfolios of national and international investors. This includes real estate funds just as much as institutional investors. Our institutional investors consist of insurance funds, pension plans, schemes and funds, securities accounts for own investments and foundations. Deutsche Asset One is an independent and owner-led investment and asset management company, which follows the “real estate investment and asset manager” principle and offers its clients a complete management package for property commitments in the style of an investment boutique. The volume of investments for the coming year is around 500 million euros. Among the investment properties are project developments and existing properties from an individual value of approx. three million euros upwards and as a portfolio of up to 3000 residential units. Deutsche Asset One currently manages property assets (assets under management) of 1.4 billion euros.
Union Investment is one of the leading real estate investment managers in Europe. In addition to open-ended real estate funds for private and institutional clients, Union Investment’s range of solutions also includes service and bundling mandates. The total volume is around 43.5 billion euros. Union Investment is active in 23 country markets. In addition to the classic types of use – office, retail. logistics and hotels – Union Investment is increasingly investing in the residential sector via partners. Further information: www.union-investment.de/realestate