AEW has been awarded a new separate account mandate from a German pension scheme for the establishment of a pan-European, core portfolio. The investor has initially committed €100m of equity to be invested in commercial and residential real estate and it is expected that the portfolio will be expanded over the next few years.
Marc Langenbach, Head of Fund Management & Separate Accounts Germany at AEW, commented: “The aim of the mandate is to build a sustainable real estate portfolio with an attractive dividend yield for our client. The investment strategy will be focused on investment opportunities in markets that will benefit from growth in tenant and investor demand. With more than €100m of assets already under exclusivity, we have already made significant progress in building the portfolio. The implementation of this mandate will involve all our local teams across our European platform of 10 offices."
Stephan Bönning, Country Head of Germany at AEW, added: “It is an endorsement of our firm that one of our existing fund investors has awarded us this new separate account mandate. We look forward to building this core portfolio for our client and taking a further step forward in growing our fund management platform in Germany.”
