IVG takes over 50.1% in Oppenheim Immobilien-Kapitalanlagegesellschaft mbH (OIK), the market leader on the growth market for special real estate funds. With the purchase of the majority in OIK, IVG becomes one of the large real estate managers - with €15.7 billion assets under management - in Europe, at the meeting point of real estate and the capital market.
OIK is the market leader for special real estate funds in Germany, with a fund volume of €8.3 billion. The Europe-wide investment for institutional investors in special real estate funds will remain a growth market in the years to come.
'A longstanding reputation is decisive to gain access to well-known institutional investors. With the purchase of the OIK participation we decided in favour of external growth and thus a rapid market launch,' comments Eckart John von Freyend, Chairman of the Management Board of IVG.
'We were happy to fulfil IVG´s wish for a 50.1% participation in OIK, thus under-pinning our strategic interest in both companies,' emphasises Detlef Bierbaum, personally liable partner of Sal. Oppenheim as well as new Chairman of the Su-pervisory Board of IVG and Chairman of the Supervisory Board of OIK.
Over the past five years IVG rapidly positioned itself in the group of the twenty largest European real estate companies. The new owner structure achieved at the beginning of this year, the participation in OIK and the strategic cooperation with Bankhaus Sal. Oppenheim thus emphasised, generate an excellent basis for profitable growth in its core business.
Real estate with strong yields, capable of withstanding the capital market on the project side and a wide capital and sales base on the finance side are the foundation for a real estate business with strong earnings. Both elements are integrated through the participation of IVG in OIK. Closely connected with these sustained growth prospects are a further improved market access and increased attractiveness for qualified staff.
IVG has longstanding experience in the purchase, development and sale of real estate, in particular of large units of the portfolio. OIK also has major experience in real estate and particular expertise in the acquisition of equity in insurance companies, pension funds and other institutional investors.
Both companies focus on European metropolises. The branch networks complement another ideally. This leads to an improved market penetration on the key European markets of London, Brussels and Paris and to a widening of geographic market access in Spain, Portugal and the Netherlands. Furthermore, OIK is developing an investment focus in the USA and already holds a participation in an experienced real estate asset manager there.
Source: IVG Immobilien