INTERNOS’s strategy for 2015 is to launch a range of new funds in parallel with the takeover of existing portfolios, a business line where INTERNOS has demonstrated considerable success in the past.
INTERNOS, the €3.9 bln European investment manager, is targeting €750 mln of acquisitions in 2015, having invested more than €300 mln for its new funds and disposed of €900 mln of assets during 2014. Building on the momentum of last year, INTERNOS will invest in predominantly income producing assets in the hotel, German retail and German care home sectors, as well as expand investment activity into the UK and Dutch institutional residential property sectors and the mainstream European commercial markets. It will also continue to dispose of assets from funds where it has a mandate to recover value on behalf of investors.
Having completed €330 mln of acquisitions across five funds in 2014, INTERNOS is looking to take further advantage of specific opportunities in the European real estate market. In the hotel sector, INTERNOS is targeting a further €225 mln of investments for Hotel Fund 1 and its Hotel value add mandate, which will bring hotel assets to €700 mln and add to the twelve hotels acquired since 2012.
Andrew Thornton, CEO of INTERNOS Global investors, commented: “A combination of strong capital flows into Europe and a focus on executing asset management initiatives enabled us to deliver the strategies agreed with our investors in 2014. We also activated several mandates investing in opportunities in specific sectors of the German market and southern Europe. In 2015, we will continue to invest on behalf of our active funds, exploiting prevailing low interest rates to enhance income returns, while we explore opportunities for institutional investors in those European markets where we have strong conviction.”