The headquarter of Frankfurt-based Oddo-BHF bank – called Oddo-BHF-Tower – changes its owner. The single family office Cara Investment sells the building to a consortium of ABG Real Estate and Merkur Grundvermörgen for an alleged amount of €300M.

Revitalization project planned

Currently, the only tenant of the building is the Oddo BHF bank. The consortium who acquired the building intends to revitalize and developt the building after Oddo BHF’s lease expires in 2024. At the latest, the revitalization project shall be completed in 2027. The Oddo BHF tower is located at the crossing of Bockenheimer Landstraße 10/Oberlindau 2 in Germany’s financial center Frankfurt. After its construction in 1965, the building was the highest in Frankfurt. The total lettable area of the building comprises 8400sqm and 23 stories.

Secretive single family office from Frankfurt

Cara Investment GmbH & Co. KG is a secretive single family office from Frankfurt that owns a significant real estate portfolio in Europe. In July, the family office acquired Waterloo Place in London for $93M. Cara owns many buildings in Frankfurt and is also involved in project developments.

Source: Immobilienmanager, 31.08.2020
Picture Source: Paul Fiedler

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Real estate investments are often represented by single family offices. The goal of many family offices, the holding and increase of wealth, is secured by rather conversational real estate investments. The spectrum of possible investments is diverse – both geographically and in terms of segments. In the following articles three special real estate investments of European single family offices are presented. This article is based on the unique List of the 300 most important single family offices with a real estate focus in Europe.

  • Article based on database of the 300 largest single family offices with real estate focus in Europe
  • Useful information such as investment focus, investments, which families are in the background, estimated family wealth, etc.
  • Direct download as Excel file via online store
  • Free preview file available on request
  • Database is perfect for identifying family offices and for partner and customer acquisition

Bjert Invest A/S with Design City (Kolding)

Bjert Invest A/S, based in Kolding/Bjert, is a Danish single family office of the Martin Jensen family. The A/S is divided into three different business areas: Real estate, business development and capital investments. The investment profile in real estate is focused on residential, industrial and office properties. One of the company’s largest and most well-known projects is the development and construction of a new district in Kolding – Design City. Together with various joint venture partners, a completely new district with a usable area of 90,000 m² is to be created in the coming years. The focus of the project is on sustainability and innovation through design – this should also enable new forms of cooperation. So far, the Design City includes an education centre, an office building, youth accommodation and a tunnel connecting the new university with the rest of the campus. Financial buildings, residential real estate, retail, cultural and leisure activities are planned.

Edizione S.r.l. with Fondaco dei Tedeschi (Venice)

Edizione S.r.l. has a long history: the Treviso-based company was founded in 1981. With an asset value of over EUR 13,000 million, the Benetton family’s asset management invests in many different areas. The three largest sectors are real estate and agriculture (13% of the portfolio), digital infrastructure (19%) and transport infrastructure with 42%. In addition to several large agricultural areas, one investment stands out in particular: the Fondaco die Tedeschi, a cultural asset of Venice, which was originally built as early as 1228. The former branch of “German” merchants (Hungarians, Austrians and Flemings included) was renovated in 2009-2016 with the financing of Edizione and is now used as a department store. A special tourist attraction is the roof terrace from which Venice can be overlooked.

ANH Hausbesitz GmbH & Co. Limited partnership with the KNEE (Berlin)

The ANH Hausbesitz GmbH & Co. Kommanditgesellschaft has its origins in family owned retail trade. Already in 1864 the first business was founded, which developed and expanded continuously. In 2003, the family withdrew from the retail trade and with the GmbH developed into an important real estate company, initially only in North Rhine-Westphalia. After 2008, the asset management of the Bremke & Hoerster family expanded its investment profile and now focuses on real estate projects in Berlin and the new federal states. One of the latest and best-known real estate investments of the Arnsberg-based company is the 7-storey office building “The KNEE” in the centre of Charlottenburg. The building will be ready for occupancy at the end of 2019. LEED (Leadership in Energy and Environmental Designs) certification is awarded to real estate projects that meet certain sustainability criteria. The KNEE convinced and was awarded LEED Gold certification at the end of 2019.

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Mezzanine capital describes a hybrid form of equity and debt capital that is located in the capital structure of a project between the equity tranche and the debt tranche coming from the bank. Mezzanine financing thus offers investors the opportunity to minimise the use of equity in real estate investments and project developments. While investors have to use less equity capital and can operate several projects simultaneously through the use of mezzanine capital, attractive returns beyond the interest rate level attract mezzanine capital providers. Single family offices are increasingly acting as mezzanine capital providers. We present three in this article. This article is based on the unique List of the 300 largest single family offices with a real estate focus in Europe.

  • Article based on database of the 300 largest single family offices with real estate focus in Europe
  • Useful information such as investment focus, investments, which families are in the background, estimated family wealth, etc.
  • Direct download as Excel file via online store
  • Free preview file available on request
  • Database is perfect for identifying family offices and for partner and customer acquisition

Arvantis Group GmbH

The Arvantis Group GmbH acts as the single family office of Alexander Samwer. The investment holding combines 6 subsidiaries: Picus Capital, operating in the technology sector, Pacifico and Voltaro, both in the renewable energy segment and three subsidiaries with a real estate focus: Augustus, Fabrix and Linus. Linus GmbH acts as a platform for mezzanine capital investments: the GmbH, founded in 2016, reviews projects, selects suitable ones and initially invests the full amount. The secured project is then placed on the company’s own platform, where investors can now participate through mezzanine financing. Linus itself participates in each project with at least 25% and a mezzanine capital amount between EUR 3-20 million. The real estate portfolio of the Berlin-based GmbH comprises 42 financed projects with an invested capital of EUR 518 million.

JP Beteiligungsgesellschaft mbH

JP Beteiligungsgesellschaft mbH has a long tradition of over 200 years, which is continued with the asset management of a Hamburg family. In addition to its corporate finance branch, the Hamburg-based mbH focuses on real estate transactions and owns several residential properties in Hamburg and Berlin. The core of the company is real estate financing through joint ventures or mezzanine capital. The investment profile for mezzanine financing is between EUR 3-15 million in the asset classes residential, office, commercial and hotel. The asset management also invests in Germany, Austria and Switzerland with a preferred project duration of 2-3 years.

Mogk GmbH & Co. KG

The Mogk GmbH & Co. KG, the single family office of the Oliver Böttger family, invests in mezzanine capital with a small portfolio share. Founded in 2011, the company clearly focuses on real estate with an 80% portfolio share. The family office currently holds 23 investments with a value of EUR 43 million. The focus is on residential, office and hotel projects, each accounting for around 20% of the assets. Direct investments in commercial and residential real estate each account for approx. 15% of the assets. The share of investments with mezzanine capital at Mogk is around 2%.
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Project development, i.e. the conception and planning of a (real estate) project, is also popular with (single) family offices. Single Family Offices manage the assets of an owner family with the aim of holding and increasing these assets. In the area of project development, single family offices often work together with various capital providers and real estate investors. This article is based on the unique List of the 300 most important single family offices with a real estate focus in Europe.

  • Article based on database of the 300 largest single family offices with real estate focus in Europe
  • Useful information such as investment focus, investments, which families are in the background, estimated family wealth, etc.
  • Direct download as Excel file via online store
  • Free preview file available on request
  • Database is perfect for identifying family offices and for partner and customer acquisition

Actris Beteiligungs GmbH & Co. KG

The Actris Beteiligungs GmbH & Co. KG is a real estate management company based in St. Leon-Rot. The GmbH & Co. KG belongs to the Hopp family and is managed by Daniel Hopp, the son of Dietmar Hopp, one of the co-founders of the IT company SAP and one of the wealthiest Germans. In 2017 Hopp invested in the imitation of one of Frankfurt’s landmarks: The Henninger Tower. The new tower was placed in Hainer Weg in Sachsenhausen and functions as a high-rise residential building with 209 apartments. With 130 metres and 39 storeys, the new Henninger Tower is almost 30 metres larger than the original. A current project of Actris Beteiligungs GmbH & Co. KG is the purchase of the Pfungstadt company premises. In future, a residential quarter is to be built on the original brewery site in cooperation with the project developer Conceptaplan.

Black Horse Investments GmbH

Black Horse Investments GmbH is a single family office with a real estate focus and is located in the Dreischeibenhaus in Düsseldorf. The Dreischeibenhaus is also one of the most famous projects of the family office – in 2011 the GmbH together with the MOMENI Group bought the listed building and renovated it. In 2015 the building was awarded the title “Best Refurbishment” of the MIPIM Award. The Family Office belongs to the Schwartz-Schütte family. The former president of the German-French Chamber of Commerce took over the position of managing director of Black Horse Investments GmbH in 2007. In cooperation with the MOMENI Group, joint venture partner of the GmbH, the SFO will invest in a prominent property in Düsseldorf’s Media Harbour at the end of November 2019.

Vitcorp

In addition to German-based family offices with a real estate focus, there are also many internationally active project developers who invest in German real estate/properties. One of these single family offices is the Vitcorp Family Office: The UK-based SFO even focuses on project developments in Germany and has recently invested in a five-star hotel in Frankfurt Sachsenhausen, in addition to projects in Berlin (Greifswalder Straße and Bergmann Straße). The “Villa Kennedy Hotel” has 181 rooms and was designed by the German architect Eike Becker. The German subsidiary SIC Properties GmbH manages the projects from Berlin.

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A Multi Family Office is an asset manager that offers its services to a majority of particularly wealthy families, single family offices and private individuals. Only a few Multi Family Offices, like Cologne-based Dereco, have focused entirely on real estate investments. In this area Dereco is one of the most active German real estate multi family offices. Buying, developing and profitably reselling real estate – this is the business model that has been successfully operated since 1993. This is also reflected in Dereco’s 2019/20 activities. Here are some selected examples: This article is based on the unique List of the 150 largest Multi Family Offices in Switzerland.

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  • Including contact details (e-mail, telephone address, management) and focus (asset management, consulting, banking)
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Together with the Hamburg investor and project developer REVITALIS REAL ESTATE AG, the foundation stone for the HAMPTON BY HILTON in Kiel was laid last year. A premium economy hotel is being built on an area of 2,700 square metres in the vicinity of the Sparkassen-Arena Kiel. The hotel with a gross floor area of 8,000 square metres will have 208 rooms. Completion is scheduled for the end of 2020.

At almost the same time, a 5,500 square meter property in Saarbrücken was acquired together with NORSK Deutschland AG. A complex with 200 student and micro-apartments is to be built here by mid 2021 – a total of seven buildings with a gross floor area of 11,700 square meters and 95 underground parking spaces.

In autumn 2019, a building was acquired in Hamburg in the immediate vicinity of Hamburg City Hall. The property in a central location with a good 1,750 square metres of rental space is to be “upgraded” through targeted investments and fits into Dereco’s Value Add strategy.

One of the most recent activities is a project development in Berlin-Neukölln announced in June 2020. Here Dereco has joined forces with the Berlin-based KLINGSÖHR Group of companies. The “Sonneninsel” quarter development is planned directly at the Sonnenallee S-Bahn station. Several buildings with about 35,000 square meters of office and commercial space will be erected on an already acquired site over the next few years. The whole thing is to have campus character. The project volume is estimated at around 250 million.

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A Single Family Office refers to a company that takes care of the asset management of an owner family. The main objectives of these Single Family Offices are, on the one hand, asset protection and, on the other hand, asset growth. Most (German) SFOs are characterised not only by their discretion, but also by preferential investments in secure investment opportunities. Accordingly, real estate business is the core business of many single family offices, or at least an important mainstay, which offers not only stable value but also steady income. In this article we present three German Single Family Offices that are very active in the real estate business. This article is based on the unique list of the largest single family offices with a real estate focus in Europe.

AM alpha Capital management company mbH

AM alpha Kapitalverwaltungsgesellschaft mbH belongs to the Wolfgang Egger family. The single family office is represented on four continents and has offices in Luxembourg, Istanbul, Shanghai, Singapore, Hong Kong, Tokyo, Sydney and Chile. The team of more than 100 employees* focuses on office, retail, residential and logistics real estate and is thus widely diversified. Also due to this diversified approach, AM alpha now has over € 2 billion of assets under management worldwide. It was only at the end of March 2020 that the single family office based in Gräfeling, Bavaria, announced the construction of 25 new residential buildings in Tokyo.

Wirtgen Invest Holding GmbH

The Windhagen-based single family office was founded in 2017 following the sale of the construction machinery company “Wirtgen Group” for € 4.4 billion. With the GmbH, the Wirtgen family now invests not only in wind farms but also in real estate in European conurbations. The latest real estate project is Taunusanlage 8 (“T8”) in Frankfurt – with its prime location directly in the centre of Frankfurt, the building is in the immediate vicinity of the Zeil and borders on the business district in the Westend. The office building was awarded DGNB Gold and LEED Platinum Green Building certification for resource-saving and environmentally friendly construction. Other real estate projects include the Wallhaus in Hamburg and a 15,000 m² property in Düsseldorf in a joint venture with the MOMENI Group.

DRIA GmbH

DRIA GmbH (Dalhke Real Estate Investment and Asset Management) is a single family office based in Heinsberg. The family office, which belongs to the Dahlke family, specializes in commercial real estate in the Düsseldorf area up to a volume of €10 million and has a real estate portfolio worth €250 million. In addition, the company offers asset management for foreign family offices, currently for Lahav Family Office from Israel and Sunshine Family Office from Australia – the portfolio size here is €300 million. Here, too, the focus is on the German commercial real estate sector. Under the management of the six shareholders, who all have years of experience in dealing with commercial real estate, a wide variety of projects have been developed and built: from retail parks to fast food restaurants to car washes. For example, the GmbH recently organised a 1,456 m² plot of land in Rüthen for the Sunshine Family Office.

Picture source: Igor Flek

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Pfungstädter is a German brewery that got into financial difficulties. Now, the brewery property was sold to the family office of Daniel Hopp, son of SAP founder and billionaire Dietmar Hopp. Hopp plans to realize a residential quarter.

Residential real estate development project on brewery area

Hopp wants to realize the real estate project in cooperation with the development firm Conceptaplan. Previous projects of Concetaplan were larger-scale residential project developments in Frankfurt and Heidelberg. Besides the planned residential buildings, also the brewery operations shall be continued with a partner. The project aims to create a harmonic townscape for Pfungstadt. Pfungstadt is a small town in Hessen, Germany. The city has 20,000 inhabitants and is located near Darmstadt.

Daniel Hopp family office as active real estate investor

The net worth of the Hopp family is estimated at over €18BN – mainly based on SAP, the firm founded by Daniel’s father Dietmar. While Dietmar Hopp is rather active as startup and healthcare investor, Daniel Hopp focuses his investment activities on the real estate sector. Another major project y Daniel Hopp’s family office is the “Henninger Turm” in Frankfurt.

Source: Deal Advisors,30.7.2020
Picture Source: Claude Piché

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Black Horse Investments GmbH, a single family office from Düsseldorf, acquired the “KAP 2 / New Fashion Plaza” office building (also in Düsseldorf) from Hadar GmbH in a joint-venture.

“New Fashion Plaza” office building in Düsseldorf

The “New Fashion Plaza” is an office building created in 1974 and refurbished in 2009. The property has an occupancy rate of 75% and a total lettable area in the amount of 6,400 sqm. Today, the building is mainly used as a retail shipping center. The building is located at the Kennedydamm, only a few minutes from the well-known Rheinpark. Real estate firm BGA Invest connected seller and buyer of the object. The “New Fashion Plaza” was sold by Berlin-based Hadar GmbH.

Joint-venture of real estate investor and single family office from Düsseldorf

A joint-venture of Kriton Immobilien GmbH and Black Horse Investments is buying the office building. The joint-venture wants to refurbish and restructure the building. For instance, a multi-tenant will be made possible. Black Horse Investments is the single family office of the Düsseldorf-based Schwarz-Schütte family. The family office is also owning the well-known Dreischeibenhaus. Patrick Schwarz-Schütte led the pharmaceutical company “Schwarz Pharma” to an IPO in 1995. He finally sold his shares to Belgian chemical company UCB for €2.6BN.

Picture source: Diri
Source: Konii, 30.06.2020

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Aurum, the single family office of Isareli billionaire Morris Kahn, sold half of its stake in the Beit Aurec project to Harel Insurance Investments and Financial Services for NIS 100M (€25M).

Beit Aurec Real Estate in Tel Aviv

Beit Aurec is a 16,000 sqm property of office and commercial space in Tel Aviv’s Abba Hillel Street. The building has a high 98% occupancy rate, its anchor tenant is the Metier Liquornik law firm. The Morris Kahn family office previously held a 80% stake in Beit Aurec. Now, Harel acquired half of it for NIS 100 (€25M) and now holds 40% of the building. The remaining 20% of Beit Aurec are held by private investors.

Morris Kahn Single Family Office

Morris Kahn is one of the most known billionaires from Israel. He launched Amdocs in 1982 as part of the Aurec group – which is know a billion dollar stock-listed software firm. Today, his family office is active in real estate, venture capital and capital markets.

Picture Source: Shai Pal
Source: Globes, 29.06.2020

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The UK Family Office Vitcorp develops a five-star apartment hotel in Germany’s banking center Frankfurt. The hotel will be operated by Cheval Collection, 2020 is targeted as the opening date.

Five Star Apartment Hotel Development in Frankfurt Sachsenhausen

Vitcorp develops the five-star hotel in Frankfurt Sachsenhausen. The new hotel is opposite the prestigious „Villa Kennedy Hotel“. The design of the new apartment hotel was developed by well-known German architect Eike Becker. Equipped with private balconies for all 181 apartments and cutting-edge design, the development can be considered as a landmark project. The Serviced Apartments will be operated by Cheval Collection. The new „Cheval Maison Frankfurt“ is the first project for the hotel operator in continental Europe.

Vitcorp Family Office active in Germany

Vitcorp Limited is a  „three-generation“ family office from London that is mainly active in property development. The latest focus is on property developments in Germany. Besides the Kennedy Alle project in Frankfurt, the family office also develops projects in Berlin (Greifswalder Strasse and Bergmann Strasse). German property developments of Vitcorp are realized through the German subsidiary SIC Properties GmbH.

Picture Source: Igor Flek
Source: Relocate, 29.06.2020

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