Garbe Institutional Capital (GAIN Capital) has taken over €500m of real estate mandates from Bouwfonds Investment Management.

Earlier this year, Bouwfonds IM confirmed a management buyout and the sale of more than €4bn of real estate and infrastructure assets, as its parent Rabobank exits fund management activities.

This was after it was reported that the majority of Bouwfonds IM had been sold to Commonwealth Investments, which manages investments on behalf of the Dreesmann family.

GAIN Capital said it has taken over the portfolio of 67 assets in the Netherlands worth around €500m. GAIN Capital will also take over the team managing the mandates and will open a new branch in Amsterdam.

The deal expands the Garbe Group’s pan-European real estate platform to around €4bn.

Michiel Dubois, a managing director of GAIN Capital, said: “With these mandates, we gained a promising entry into the Dutch market.

“We are especially happy to secure the responsible fund and asset management team which has extensive know-how regarding the assets. This provides us with a very strong position for future activities in the Netherlands”.

The real estate investor said it plans to expand its business activities in western Europe – with a focus on Germany.