SUCCESSFUL KICK-OFF TO THE 2023
Tristan Capital acquires German residential real estate portfolio in Leipzig.
EPISO 6, a fund managed by Tristan Capital Partners, together with its joint venture partner Lübke Kelber, has acquired a residential portfolio in a number of attractive locations in Leipzig as part of a share deal. The value of the portfolio acquired from Brack Capital Properties amounts to 240 million euros. The residential units are fully let.
Lübke Kelber will act as asset manager and co-investor and will manage the local real estate and facility management companies currently in charge of the properties.
Constantin Plenge, Managing Director of Tristan: "This transaction provides us with a solid foothold in the German residential market, from which we intend to build a larger, more diversified portfolio. Leipzig is the ideal location for our first acquisition. It is the fastest-growing major city in Germany with the right potential for rent and appreciation. The properties are all in good locations, are fully let and provide a stable cash flow. Germany is and remains a core market for us and we continue to explore thematic strategies that benefit from supply-restricted long-term demand drivers."
Marc Sahling, Managing Director of Lübke Kelber: "The joint venture is part of our strategic three-pillar approach at Lübke Kelber with the Transaction Residential, Commercial and Asset and Investment Management divisions and the associated internationalisation of the company.
It underlines the extent to which residential real estate in major German cities continues to be an attractive investment product and is also in demand from foreign investors in combination with regional expertise. Our local offices and network makes us ideally placed to continue to exploit opportunities in the residential property market together with our partner Tristan. We look forward to further expanding our asset and investment management with this partner."
EPISO 6 was advised by Clifford Chance, PwC, BNP Paribas, ENGEL & VÖLKERS (Leipzig), CBRE Valteq, Savills and KRAPF Rechtsanwälte.
About Tristan Capital Partners
Tristan Capital Partners is an employee-owned investment management boutique specialising in real estate investment strategies in the UK and Continental Europe. The company's pan-European real estate funds pursue core-plus, value-add and opportunistic investment strategies with more than €15 billion in assets under management and a close-knit client base of institutional and private investors.
The company was founded in 2009 by Ric Lewis. The company's management team and investment committee have worked together for more than 20 years on 12 funds, which have invested a total of more than €22 billion gross in real estate (as of January 2022). The company has an experienced team of 162 specialists in six offices across Europe (as of January 2022).
Tristan has offices in Luxembourg, Milan, Paris, Frankfurt and Amsterdam. Tristan is the portfolio manager of the core plus funds Curzon Capital Partners III LP, Curzon Capital Partners IV, Curzon Capital Partners 5 Long-Life LP and SCSp as well as the opportunistic funds European Property Investors LP, European Property Investors Special Opportunities LP, European Property Investors Special Opportunities 3 LP, European Property Investors Special Opportunities 4 LP, European Property Investors Special Opportunities 5 SCSp-SICAV-SIF, European Property Investors Special Opportunities 6 SCSp and the real estate credit fund Tristan Income Plus Strategy One SCSp.
www.tristancap.com.