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This article includes three real estate investment managers that can be found our list of the largest real estate investors active in Germany. The database is comprised of institutional investors, investment managers, project developers, real estate companies, REITs, and pension funds.
This list will include three German real estate investment managers that seek value for its clients and reduce any exposure to risk. Germany has a prominent real estate market, with an estimated transaction volume of €65.8bn in 2022 according to real estate group CBRE. All of the firms discussed below can be found on our list of the largest real estate investors in Germany.
1) Deka Immobilien (Frankfurt, Germany)
Deka Immobilien is the real estate branch of the German conglomerate Deka Group. With over 50 years of experience, the firm is one of the country’s leading real estate investment managers. Deka real estate investment portfolio includes assets such as office, retail, hotel, and logistics consisting of over 250 German properties. The Frankfurt-based firm has acquired a portfolio that is estimated to be worth €50bn and continues to expand having invested €3.1bn in 2022. Some of their acquisitions include a 3,750sqmt property in Hanover Quay Dublin which will be leased by Airbnb and a 7,00sqmt office building in Madrid (Ancora 40) which will be fully leased.
2) Union Investment Real Estate GmbH (Hamburg, Germany)
Union Investment Real Estate is the real estate investment vehicle for the German investment firm, Union Investment. The real estate division has been operating for over 66 years and currently has €58bn of assets under management. Union has a diverse portfolio with 500 assets comprised of office, retail, hotel, logistics, and residential assets. The group has launched several open-ended real estate funds to identify promising real estate opportunities. Some of their funds include Unilmmo Germany (German focus), Unilmmo Europe, Unilmmo Global, Unilmmo (Housing ZBI), and real estate fund 1 as well as numerous special funds. One of their special funds includes a joint venture with Investa Capital Management (ICM), Urban Campus Nr.1 which acquired a 10,062 in Dortmund which which is a campus property that also contains a hotel and office building.
3) Commerz Real (Wiesbaden, Germany)
Headquartered in Wiesbaden and Düsseldorf, Commerz Real AG is a subsidiary of Commerzbank AG that operates several open and close-ended funds. To date, Commerz Real has developed a portfolio with €34bn of assets under management. The firm manages one of the longest-serving open-ended real estate funds which was launched in 1972. Since its inception, the fund has acquired 150 premium properties which include offices, shopping malls, and hotels located across Europe. The German aims to continue to diversify its portfolio with a €5m investment in PT 1 Early-Stage Fund II, a joint venture fund launched by Proptech 1 which seeks investments in tech real estate start-ups. Commerz Real is also active in global markets, in June 2022 their open-ended real estate fund Hausinvest acquired a 25,000sqmt site in Washington DC which is a modern office building.
Picture source: Sean Pollock (03.05.2023)