Transaction volume of c. EUR 200 million in 2018
Purchases of between EUR 500 million and EUR 1 billion planned in 2019
Berlin/Frankfurt, 23 January 2019. NAS Invest Group reached important milestones in 2018 and continued to grow. In the operating business, the company bought properties worth c. EUR 150 million and sold properties for c. EUR 50 million. Strategically, the company grew its institutional business further by bringing on board Oliver Zimper as a partner in the role of chief investment officer (CIO) and Co-CEO of the Group.
“We delivered on our key strategic targets for 2018 and positioned NAS Invest Group very effectively for continued future success. Our continued focus on the macroeconomic environment and the current stage of the property cycle enabled us to close important deals,” stresses Nikolai Dëus-von Homeyer, Co-CEO, COO and Managing Partner at NAS Invest.
“In addition to broadening our investment universe to include core properties, we also sought to exploit short-term investment opportunities in this market phase by bringing opportunistic and value-add properties in metropolitan regions into the investment mix from mid-2018 – a strategy we look to continue this year. Repositioning properties with maintenance and repair needs or vacancies offer strong value potential and attractive returns. As an active asset and investment manager with local market expertise, we have the experience required to successfully revitalise commercial properties of this type and sell them after a holding period of two or three years,” adds Oliver Zimper, Co-CEO, CIO and Managing Partner at NAS Invest.
Approximately half of the purchases were made on behalf of the portfolio of the Luxembourg-based joint venture „BR-NAS German Mittelstand Properties RAIF-SICAV“ launched in 2017 together with BlueRock. Including the most recent acquisitions in Karlsruhe and Dresden, the fund portfolio now holds nine properties with a total value of about EUR 150 million. This brings the company significantly closer to the fund’s target volume of EUR 250-400 million. The investment universe of the “BR-NAS German Mittelstand Properties” emphasises office buildings and health centres with mid-market tenants in German metropolitan regions. The fund offers family offices, high net worth individuals and institutional investors access to commercial properties with attractive risk/return profiles and cash flows.
In the context of other strategies, NAS Invest also acquired another four properties worth c. EUR 75 million. The property and investment manager also sold five properties and condominiums in Berlin for over EUR 50 million bringing real assets under management (AUM) up year on year to now about EUR 400 million.
In 2019, the Group targets purchases of at least EUR 500 million and up to EUR 1 billion. This includes investments of EUR 100 to 200 million on behalf of the SME strategy “BR-NAS German Mittelstand Properties”. NAS Invest also plans to launch a successor to the existing fund. “The performance and anticipated distributions of our mid-market strategy show that investments in office buildings and health centres with a broad mix of mid-sized tenants offer significant potential. Mid-market companies, which form the backbone of the German economy, exhibit particularly strong credit qualities and have proven surprisingly resilient to the economic cycle. We will press on with our existing strategy and also exploit short-term opportunities as and when they present themselves,” says Dëus-von Homeyer. NAS Invest also intends to place greater emphasis on club deals going forward.