INDUSTRIA, part of the Becken Group, acquired two asset management mandates in a volume exceeding €350m. These break down into a total of around 2,200 residential units located all over Germany. Both mandates originated from the insolvent d.i.i. Group.
The first of the two mandates acquired includes assets worth more than €150m, with HANSAINVEST acting as its new AIF management company. The regional focal points of the portfolio are the cities of Cologne, Hanover, Bremen and Minden, which account for about 1,000 residential units. In addition to the asset management, INDUSTRIA will also take over the property management of this mandate.
The second mandate comprises assets in a volume of more than €200m, and is administrated by AIF manager INTREAL. It includes about 1,200 residential units. The portfolio’s geographic key cities are Aachen, Frankfurt am Main, Pirna and Gütersloh, among others.
Thomas Wirtz (FRICS), Managing Director of INDUSTRIA Immobilien, commented: “We were very glad to be onboarding these two new mandates, which was done in close consultation with the two third-party AIFMs involved and with the respective institutional investors. The fact that these renowned investors opted for INDUSTRIA underscores the faith they have in our residential real estate management competence. This brings the number of institutional investor accounts managed by INDUSTRIA up from around 50 to now more than 75.”
Markus Reinert (FRICS), Managing Director and COO of Becken Holding, added: “We intend to keep expanding our asset management and property management business, and are in talks with various market operators. Taking over existing mandates is one way to pursue inorganic growth even in the current market environment.”
Jurgen Hau, Managing Director of INDUSTRIA and responsible for property management, added: “We are currently in the process of integrating new assets into the active management. In the longer term, we will draft a plan for each property that takes the aspects of maintenance, investment and tenant cooperation into account so as to develop the portfolio assets in optimal ways.” Following the acquisition of the new mandates, the property management of INDUSTRIA now has 20,500 real estate units across Germany in its care.”
Image source - Pexels
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