Union Investment has assets under management of some €31.9bn in 12 real estate funds. Within the Union Investment Group, Hamburg-based Union Investment Real Estate GmbH, established in 1965, is the specialist for private real estate investment. Its sister company, Union Investment Institutional Property GmbH focuses on real estate investment for institutional customers.
Union Investment’s open-ended real estate fund portfolios comprise some 350 properties and projects in Germany and other European Countries, America and Asia. Within the commercial real estate sector, Union Investment is active as an institutional investor and asset manager. Today, the company operates in 24 countries around the world, with approximately 60% of property assets located in countries outside the domestic market.
Union Investment is increasingly leveraging opportunities that arise from different property cycles around the world. To spread risk and enhance performance, the company has a strict policy of investing in a mix of uses, regions and property sizes. Investments in city-centre office space, business hotels and shopping centres are the mainstay of the company’s investment strategy. Union Investment owns 47 shopping centres across 11 european countries with a current market value of some €7.6bn, corresponding to 30% of its total real estate fund assets.
The shopping centres are operated by experienced management companies as ECE, Unibail-Rodamco, Prelios, Sonae Sierra, Multi Development, APSYS and B&L. Amongst the most recent acquisitions is the Palladium shopping centre in Prague and the dominant Polish centers Riviera Gdynia and Ferio Konin.