Frankfurt am Main, February 8 2016

BERENBERG Real Estate Hamburg: New real estate special fund of Berenberg and Universal-Investment invests in Hamburg real estate

Berenberg and Universal-Investment have together successfully launched the real estate special fund BERENBERG Real Estate Hamburg. The investment strategy focuses on real estate in and around Hamburg, an investment location in demand among both national as well as international investors and at the same time home market of Germany's oldest private bank. For Berenberg it is the first open-end real estate special AIF. The fund is to be distributed to institutional investors such as pension funds, pension institutions and savings banks.

Core / core-plus strategy with annual return target of four percent

Fund target volume of some 350 million euros

Purchase of former Spiegel high-rise building as first object

The fund has already purchased its first two objects, one of which is the "HEIGHT1" object as starting investment. In future, the former Spiegel high-rise building, which today is listed as a historic monument, is to be occupied in the long term by the law firm MDS MÖHRLE / HAPP LUTHER following extensive revitalization. The twelve-storey building constructed in 1969 at the top location of Hamburg's Zollkanal offers total rental space of a good 7,100 square meters.

Zoom
Source: HOCHTIEF Projektentwicklung

The fund is to build up a diversified real estate portfolio with a target volume of 350 million euros. Around half of the budgeted equity share of some 200 million euros has already been placed. While the geographical allocation is centred on the City of Hamburg and surrounding metropolitan region, the fund can invest in virtually all usage categories as well as in objects with mixed use. Berenberg Real Estate Asset Management, a company of the Berenberg Group, is responsible for the asset management and operational handling of the purchases and sales. “With BERENBERG Real Estate Hamburg we have extended our range of products to also include institutional investors so that they can invest in the prominent Hamburg real estate market with a locally-established partner”, claims Ken Zipse, Managing Director of Berenberg Real Estate Asset Management. “The distribution of the units is to take place in several stages to allow the fund's disposable capital to be promptly invested in real estate.”
The fund has been launched on the real estate platform of Universal-Investment which meanwhile encompasses around 20 real estate special funds, some of which have an international real estate focus, and with a gross fund volume of more than five billion euros. As Alexander Tannenbaum, Managing Director responsible for the real estate segment of Universal-Investment explains, “the successful launch of Berenberg's real estate fund offers further confirmation that the notion of separating asset management and administration is also becoming increasingly established in the real estate area”. Since the extension of the administration platform to include the real estate segment in 2011, nearly 400 items of real estate have already been certified for institutional investors and real estate managers.

About Berenberg
Berenberg was founded in 1590 and is today one of Europe's top private banks with its Private Banking, Investment Banking, Asset Management and Corporate Banking divisions. Domiciled in Hamburg, the bank is managed by personally liable shareholders, is strongly represented in the financial centres of London, Zürich, New York and Frankfurt with in total more than 19 locations in Europe, America and Asia and a workforce of more than 1,330 employees. Besides the consulting and transaction business, the Real Estate Office focuses in particular on identifying suitable objects for structuring open- and closed-end alternative investment funds (AIF) in accordance with German Investment Law. Berenberg thus offers both private and institutional clients indirect access to selected projects and portfolios. The ongoing asset management activities are handled by Berenberg Real Estate Asset Management GmbH, a company of the Berenberg Group.

Further information can be found at www.berenberg.de

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Bernd Obergfell
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