Cornerstone strengthen European Real Estate platform with the acquisition of Pamera asset management (DE)

Cornerstone Real Estate Advisers LLC, one of the largest global real estate investment managers with more than €32 billion of assets under management and a subsidiary of the Massachusetts Mutual Life Insurance Company, announces a significant step forward in its strategy of building a global real estate investment management platform through the acquisition of PAMERA Asset Management, a German real estate asset management business.
PAMERA, which was established by Christoph Wittkop, Gunther Deutsch, Lars Borghaus and Maximilian Isenberg in 2010, provides Cornerstone with approximately €1 billion of assets under management in Germany, and a 38-member team in a network of offices in the key German cities of Frankfurt, Berlin, Dusseldorf, Hamburg and Munich. PAMERA manages property assets in Germany, focused primarily on the office and retail sectors, and will continue to work with its existing client base of German and international private equity investors, loan servicers and institutional investors operating in the value add and opportunistic segments of the market.
This transaction is consistent with Cornerstone’s stated strategy to expand its real estate platform throughout Europe. It will enable Cornerstone Europe and PAMERA’s combined operations in Germany to continue to expand and offer new investment products and services in Germany, with a particular focus on core / value add investments, to a broader network of both domestic and international investors.
Charles Weeks, CEO of Cornerstone Europe, said: “We intend to grow Cornerstone’s investment management platform in Europe and the acquisition of PAMERA complements our existing operations in the U.K., Nordics and Netherlands. We are impressed by PAMERA’s proven track record, experience, knowledge and developed network of contacts.”
Source: FTI Consulting

Related News