Henderson Park has acquired a majority stake in GBI Holding, a residential real estate platform.
GBI said private real estate investment fund manager Henderson Park has agreed to buy the stake on behalf of one of its funds for an undisclosed amount.
GBI is a real estate developer focusing on subsidised and free-financed residential, hotels, student housing and serviced living concepts under the SMARTments brand. Since its foundation in 2001, GBI has sold €2.5bn worth of real estate projects in Germany and Austria.
GBI also operates serviced, student and (senior) living apartments under its SMARTments brand and has set up an investment management arm via its GBI Capital subsidiary
Reiner Nittka, CEO of GBI, said: “We welcome Henderson Park as our new majority shareholder. We share the same vision as Henderson Park, who is investing on behalf of institutional clients with a strong focus on ESG. Equally, we are pleased that the Moses Mendelssohn Foundation, GBI’s former majority shareholder, will stay invested in the company with a minority stake and our existing cooperation will continue.”
Christophe Kuhbier, managing director at Henderson Park, said: “GBI’s management team has built an impressive business and we are looking forward to supporting its continued growth and to further cementing the SMARTments brands as a leading operator of living accommodation in the German market.
“There is clear demand for the ESG-compliant real estate that GBI has a track record of delivering, and we’re confident in our ability to jointly scale the platform, whilst working in close coordination with GBI Capital’s investors to accelerate quality new home developments.”
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