Frankfurt am Main / Munich, October 5 2015
Acquisition of residential properties in landmarked Luisen Park
Project development comprises multi- and single-family homes
The acquisition comprises six multi-family homes and nine terraced houses. The property’s attractive features include direct access to the shoreline of Lake Templin on the Havel river. The complex is scheduled for completion in 2017.
“With this project development in Potsdam we have gained early access to a highly attractive property for our fund. The residential complex is an ideal fit with our existing fund portfolio,” explains Iris Schöberl, Managing Director BMO Real Estate Partners Germany.
“Institutional investors have shown great interest in residential real estate for some time now, a trend that our new survey of institutional real estate investors has confirmed,” explains Alexander Tannenbaum, Managing Director in charge of the Real Estate are at Universal-Investment. Following an extended period of inflows into office and retail real estate investments, investors have rediscovered investments in residential real estate. “Given declining returns and product availability in other real estate sectors, we expect the trend towards residential real estate to continue for some time,” Tannenbaum adds.
BMO Real Estate Partners (BMO REP) is a property specialist focused on commercial real estate investments in Europe. The company is based in London (UK) and manages about EUR 9.6 billion in real estate assets (as of 30/06/2015). BMO REP manages a real estate portfolio of 300 mostly retail and office properties in Germany valued at about EUR 1.8 billion (as of June 2015). BMO REP is part of Bank of Montreal (BMO) Global Asset Management, a global asset manager. Including investments in portfolios with and without a management mandate BMO Global Asset Management had assets under management of more than USD 254 billion as of 30 April 2015. BMO Global Asset Management is part of BMO Financial Group (NYSE: BMO), a fully diversified financial services provider with total assets of CAD 633 billion as of 30 April 2015 and more than 47,000 employees.
More information on www.bmorep.com