Pamera Asset Management, a newly formed German real estate company, has landed a prime instruction in central Frankfurt having been appointed by LaSalle Investment Management on the letting of one of the city's most prestigious office developments, the 4,600-m² 'Borsentor' scheme in the heart of the financial district.
Christoph Wittkop adds: "Pamera was established with the aim of providing transaction-oriented asset management of commercial property and real estate portfolios for investors and financial institutions. This approach, combined with our proven track record and huge experience of letting management and property marketing across Germany, has been rewarded with this prestigious instruction."
Uwe Rempis, Head of Asset Management Northern Europe for LaSalle Investment Management, comments: "We decided in favor of Pamera because we found their combination of letting co-ordination, coupled with presence in the local market and understanding of LaSalle's concerns as an institutional Investor, to be the most convincing."
The new development, owned by the LaSalle German Income and Growth Fund, is located in Börsenstrasse, close to the Alte Börse and Goethestrasse - Frankfurt's luxury shopping street. The seven-story building is expected to be awarded a Gold LEED certificate, confirming its green credentials.
Pamera Asset Management GmbH was established by Gunther Deutsch (founder of Metis Asset Management GmbH) and Christoph Wittkop in September and has rapidly established a strong reputation in the German real estate market. The firm has offices in Frankfurt, Hamburg, Mülheim Ruhr, and Munich along with an office in Fort Lauderdale, Florida.
The LaSalle German Income and Growth Fund is a closed-end real estate fund which has approximately 1 billion invested in German commercial property.
Source: Revolution PR