Ivanhoé Cambridge is expanding its European footprint with the acquisition of a stake in a €1bn German real estate vehicle focused on manage-to-core office investments.
The C$65bn (€45bn) real estate investment arm of Caisse de dépôt et placement du Québec said it has bought a strategic equity stake in Golden Capital, a vehicle is managed by Lianeo Real Estate.
Golden Capital owns and manages a diversified private real estate portfolio made up of 39 properties. The properties offer more than 500,000sqm of leasable space with a total asset value of €1bn.
Ivanhoé Cambridge said its investment will help improve the quality of the portfolio through asset repositioning and new acquisitions in the largest German cities.
Karim Habra, head of Europe and Asia-Pacific, Ivanhoé Cambridge, said this investment marks the return of Ivanhoé Cambridge in Germany, a strategic market for the company.
“We were convinced by the quality and the value-creation potential of Golden Capital’s underlying assets as well as Lianeo’s asset management expertise.
“We look forward to growing this platform and generating superior long-term performance.”