Successful foundation of joint venture BR-NAS German Mittelstand Properties together with BlueRock Group in Q1 2017
Purchases in the amount of EUR 40 million for the “BR-NAS German Mittelstand Properties RAIF-SICAV” fund
New focus on institutional clientele in addition to semi-institutional investors
NAS Invest Group, the property investor and asset manager with offices in Berlin and Frankfurt/Main, laid the foundations of additional growth over the first half of 2017. Thanks to the Luxembourg-based joint venture BR-NAS German Mittelstand Properties founded together with BlueRock Group, NAS Invest is from this year onwards able to offer AIFMD-compliant real estate investments and funds, targeting not only private wealth managers and high net worth individuals but also increasingly institutional investors.
As of 30/06/2017, the company had EUR 225 million in assets under management (AUM). In addition to sales with a total volume of approximately EUR 200 million, properties for EUR 75 million have been added to the portfolio.
The inception of the “BR-NAS German Mittelstand Properties RAIF-SICAV” which launches the new fund series “German Mittelstand Properties” has been at the centre of NAS Invest’s activities in the first half of 2017. The fund enables qualified international and domestic investors to access a diversified portfolio of German commercial properties and invests equity in the amount of EUR 100 million in office buildings and health centres from the small and mid-sized (SME) sector of the economy across Germany’s metropolitan regions. The joint venture of BlueRock Group and NAS Invest already acquired office properties in Dortmund, Wiesbaden and Berlin for a total EUR 40 million on behalf of the fund.
During the second half of 2017, NAS Invest will target additional acquisitions for the fund‘s portfolio; the due diligence for the purchase of properties for a total EUR 50 million is already well under way.
“Our acquisition activities continue to focus mainly on commercial SME properties with a diversified tenant mix that offers a healthy risk/return profile and stable cash flows particularly in today’s tight market,” says Nikolai Dëus-von Homeyer, Managing Partner of NAS Invest. A special emphasis is placed on office buildings and health centres. Under its current corporate strategy, NAS Invest will also successively reduce existing mandates in the retail property sector.
NAS Invest strengthened its corporate structures in Q2 2017 with the foundation of an advisory board comprised of the renowned property experts Dieter Becken, Steffen Ricken and Oliver Zimper, who will advise senior management on an ongoing basis.