Ontario Teachers’ Pension Plan has entered the German residential market through a new joint venture with local operating partner DW Effectum Residential (DWE).
The Canadian pension fund has invested an unspecified sum to acquire four fully let multi-family assets in southern Germany as part the country and has launched the new partnership with DWE.
Ontario Teachers said the new joint venture with its specialist German residential real estate operating partner will focus on building a portfolio of multi-family assets across Germany’s leading cities and surrounding metropolitan areas.
Jenny Hammarlund, executive managing director, real estate at Ontario Teachers, said: “This investment strengthens our exposure to high-quality urban rental markets in Europe and advances our objective of building resilient, income-generating portfolios.
“We focus on markets where active asset management and local expertise create lasting value and DWE’s market knowledge and operational capability make them the right partner to enhance asset performance and resident outcomes over the long term.”
Daniel Filser, managing director at DWE, said: “We are very grateful for our new joint venture with Ontario Teachers and want to thank Jenny and her team for their trust and hard work. This transaction marks the beginning of a broader living strategy, and we are excited to further grow this portfolio over the coming years.”
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