We are planning further purchases this year with a total volume of around EUR 300 million. The target markets continue to be Germany’s top 7 cities and high-growth metropolitan areas, and recently also cities in other European countries. This is accompanied by the personnel and structural expansion of activities in development. To this end, a new manager has joined the team: since the beginning of March, Lutz Keßels has held the newly created position of Head of Project Development, with overall responsibility for all development tasks.
With Lutz Keßels, we have been able to gain an experienced and accomplished real estate expert. In addition to further acquisitions, our aim is to leverage more value-creation potential in our existing portfolio and achieve further growth in this way.
Lutz Keßels has more than 25 years of experience in the planning, development and realization of construction projects and most recently gained his in-depth expertise in the “Am Tacheles Berlin” project at pwr development. In his professional career, he managed the neighborhood development of WBM Wohnungsbaugesellschaft Berlin-Mitte mbH and was managing director of Pandion AG. Here, the graduate architect was responsible for the development of urban planning concepts and realized major projects and district developments.
The real estate portfolio we currently manage amounts to more than one billion euros in assets under management (AuM) across Germany and is predominantly invested in closed-end special funds and, since 2019, in a RAIF.