By merging its asset and fund management business with Cologne Trust Real Estate GmbH and Cologne Trust Fund Management GmbH, the Ernst Russ AG subsidiary Assetando has expanded the real estate portfolio it manages by around 460,000 m². This purchase significantly boosts Assetando’s current portfolio, which is further diversified by the acquisition of nine solar parks. The real estate portfolio consists primarily of funds managed by Cologne-based Merkens Fonds GmbH.
The portfolio comprises a total of 23 real estate units in 23 funds. All of the properties are situated in Germany, with a regional focus on North Rhine-Westphalia. They are let to creditworthy tenants on mostly long-term, secured leases.
Assetando will open an office in Cologne at the beginning of 2018 as part of the future partnership. In addition to substantially expanding the asset and fund management business, the joint aim is to expand property management activities.
The Ernst Russ AG subsidiary Assetando manages real estate (in Germany and internationally) with a value of around €2bn and is now also involved in numerous real estate development projects.
“We are very pleased by this transaction with familiar business partners, which enables us to further expand our reach in the real estate management sector. In addition to diversifying our current portfolio as much as possible, we are also aiming for stable and sustainable management, which means long-term management of the properties in the interests of investors,” said Matthias Voss, managing director of Assetando.
“A deal like this requires a lot of trust between the partners involved. At the same time, this transaction was only possible because we have continually intensified our market presence in the past few months,” added Ingo Kuhlmann, the Executive Board member of Ernst Russ AG responsible for the real estate business. “This cooperation further strengthens the strategic position of the Ernst Russ Group. We are delighted!”
