AEW Europe/Tristan Fund in German residential joint venture (DE)

EPISO LP, a value-added/opportunistic fund co-advised by AEW Europe and Tristan Capital Partners, has formed a joint venture with caleus capital investors gmbh (CCI) and plan to invest €250-300 million investment volume over the next 12-18 months in value-added residential investments primarily in Berlin through its joint venture vehicle, EPISO Berlin Sarl.

A first investment in 800 residential units in Berlin- Tegel was announced yesterday (October 4, 2010).

The joint venture focuses on residential assets with more than 250 units that provide a significant value-add potential in respect of rental increase and refurbishment.

CCI is a Berlin-based real estate investment management company founded and led by Dr. Ulrich Weber and Patrick Reich. CCI invests alongside its partners in order to fully align interests.

Ric Lewis, Chief Executive of Tristan Capital Partners, commented on the partnership, "We have had a successful partnership with Uli and Patrick before and moreover, they have a longstanding track record in the industry and more than 35 years of combined real estate experience as investors and asset managers. They will provide full asset management and transaction expertise for the joint-venture and is responsible for executing the day-to-day asset management tasks on behalf of EPISO Berlin Sarl and its subsidiaries."

Christian Delaire, CEO of AEW Europe explained, "The German markets are of great interest to us at this point in the cycle, we see many attractive transactions and look to be very active across Germany."

Source: Bellier Financial

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