A German pension fund has hired Montano Asset Management to invest in core-plus and core office properties in Germany.
Montano said it has received its first instruction from the unnamed occupational pension scheme to invest the “lower three-digit million range, which can subsequently be increased”.
The manager will target office properties in prime locations in Germany’s top seven cities and selected ‘B’ locations. The planned investment period is 24-months, it said.
Ramin Rabeian, a managing partner at Montano Asset Management, said: “We are delighted with the confidence placed in Montano.
“This demonstrates that institutional investors, with their specific requirements, also appreciate our team’s real estate expertise and extensive networking in the local German markets.”
Rabeian said the first potential properties to be acquired under this instruction are already under consideration.
Montano currently manages 64 properties across Germany, valued at around €1.6bn, for a range of institutional clients, family offices and sovereign wealth funds.