Funds advised by Tristan Capital Partners, the pan-European real estate investment boutique, have completed €2 bn of transactions across Germany over the last year, the firm announced at Expo Real.
The deals take the firm’s total assets under management (AUM) in Germany to €3.8 bn.
Highlights from the past year have included the acquisition of the ‘Summit’ mixed-use portfolio by the opportunistic EPISO 5 fund for €1 bn in June 2021; the purchase of the ‘Selection’ office portfolio by the core-plus CCP 5 fund and the acquisition by EPISO 5 of the ‘Lion’ Portfolio (a Berlin based AG) for €285 mln, and with it a major portfolio of 23 residential and commercial assets in central Berlin, Leipzig.
Commenting at Expo, Constantin Plenge, managing director at Tristan Capital Partners, said: 'We are starting to see a solid stabilisation of the German market and continue to see interesting opportunities across all asset classes.
'The expertise of Tristan’s team, supported by a well established network of trusted local partners, means we’ve been able to identify a number of opportunities off market, giving us an edge in a tight market. The number of transactions completed in Germany in the past 12 months is testament to that work.'
Ali Otmar, head of investments at Tristan Capital Parnters, added: 'Germany has shown remarkable resilience over the past year, attracting a substantial share of global capital flows. The office market has bounced back exceptionally quickly, with occupancy almost back at pre-Covid levels and capital markets gaining momentum through 2021 as restrictions were relaxed and vaccination rates increased.
'Looking ahead, we believe that ESG factors are becoming increasingly important both for occupiers and for institutional capital in Germany. The supply of Grade A office space in knowledge cities remains tight. We anticipate increasing competition for well-located assets with strong environmental accreditations and amenities that facilitate wellbeing and collaborative working.'