Ivanhoé Cambridge takes stake in €1b manage-to-core platform in Germany

Canadian group Ivanhoé Cambridge has announced the acquisition of a strategic equity interest in Golden Capital, the German real estate investment company specializing in manage-to-core investments.

Financial details as well as the size of the equity interest were not disclosed.

Golden Capital owns and manages a portfolio comprising 39 real estate assets, mostly office buildings, which are located in the seven largest cities in Germany. The properties consist of more than 500,000 m2 of rental space with a value of €1 bn.

Golden Capital is led by Amir Dayan, who is also the owner of the Lianeo Real Estate asset management platform. The company focuses on value-add investments.

Last year Israeli insurer Harel is believed to have spent €73 mln to acquire a 15% stake in the company.

Karim Habra, head of Europe and Asia Pacific at Ivanhoé Cambridge, commented: 'With this investment, Ivanhoé Cambridge returns to the German market - which is strategically important to us. We are convinced of the quality and value creation potential of Golden Capital's underlyings and of Lianeo's asset management expertise. We look forward to expanding the platform and delivering excellent, long-term results.'


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