Real estate manager Empira has secured an anchor investment of more than €158m from UBS’s unified alternative investments business for its newly launched German residential strategy.
Empira said the capital from UBS Unified Global Alternatives will be deployed over the coming months to build a diversified seed portfolio across Germany for its core-plus EMPIRA German Living strategy, which has a target fund size of €350m.
The strategy focuses on the acquisition and active management of income-generating residential assets in German A-cities, as well as selected B- and C-cities.
Jorge Veiga Juiz, global head of client solutions, Empira, said: “The launch of the German living strategy marks an important milestone in our growth trajectory. As Europe’s largest rental market, Germany offers a structurally attractive environment for institutional investors.
“The partnership with UBS Unified Global Alternatives as anchor investor underscores the confidence in our platform and our investment capabilities.”
Ralf Morisse, head of residential mandates, Empira, said: “The German residential market is currently characterised by attractive entry opportunities, driven by price adjustments and a structural refurbishment backlog resulting from new EU energy efficiency requirements.
“Our manage-to-core approach enables us to selectively acquire assets, enhance them through targeted measures, and create sustainable value – for both investors and tenants.”
Jean-Luc Seidenberg, managing director, head of Europe, UBS Unified Global Alternatives Real Estate, said: “Our commitment to the Empira German Living strategy represents a natural continuation of our investment approach in the European residential sector.
“The combination of attractive entry pricing, an experienced and vertically integrated management team, and a clearly defined ESG profile makes this strategy particularly compelling for us.”
Ilias Harcha, executive director, UBS, said: “Our investment reflects a high level of conviction in Empira’s integrated platform and its ability to execute a disciplined manage-to-core strategy in the German residential market.
“The combination of strong local expertise, operational capabilities and a clearly defined investment framework provides a robust foundation for delivering long-term, risk-adjusted returns for our clients.”
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