For Europe’s billionaires and single family offices, real estate is a core asset class. Some families own huge property portfolios since decades, while others are currently building up their holdings. The investment strategies differ from family office to family office. Some simply acquire prime buildings, while others pursue development projects. In the following, we are introducing three real estate family offices of European billionaires and billionaire families.
1. Pontegadea Inversiones SL (Amancio Ortega family, Coruna, Spain)
Amancio Ortega is the founder of clothing chain Zara and other brands like Massimo Dutti and Pull & Bear. Ortega is one of the wealthiest Europeans with an estimated net worth of $71.3BN. Ortega manages his wealth through the Pontegadea Inversiones family office. The investment vehicle amounts to the most active real estate family offices in the world. In January, it was announced that the Ortega family office aquires Toronto’s Royal Bank Plaza for C$ 1.2BN from Oxford Properties. The investor also aquired a commercial building in Glasgow for GBP200M. The total worth of Ortega’s real estate portfolio is estimated at €15BN.
2. Interogo Holding AG (Kamprad family, Pfäffikon, Switzerland)
Interogo Holding is the family investment group of the Kamprad family. The Kamprad family stands behind globally active furniture chain Ikea. One major investment focus of the firm is real estate, conducted through Vastint Holding, which is headquartered in Amsterdam. Real estate AUM exceed €4.5BN. The firm is active in development and asset management for commercial, residential and hospitality assets. Exemplary buildings are the Scottish Exhibition Centre in Glasgow or a Moxy in Utrecht.
3. Cofra / Redevco (Brenninkmeijer family, Zug, Switzerland)
The Zug-based Cofra Holding manages the wealth of the Brenninkmeijer family, who created clothing giant C&A. Real estate investments of the family office are realized through Redevco. Redevco calls itself “trusted partner in urban real estate”. A huge focus of the investment firm lies on retail properties, e.g. a commercial complex in Waterloo, Belgium or the Mercado de San Miguel in Madrid, Spain. Also residential properties like the Dieterich Karree in Düsseldorf, Germany belong to the portfolio.
Picture source: Jorge Salas
The presented family offices are included in our unique European real estate family office list. Our list contains the most important investment vehicles of wealthy families from the Europe, so-called Single Family Offices. All firms from the list are active in real estate, but often also in capital markets, venture capital, private equity and alternative asset classes.