Asset manager Silverton has partnered with Europi Property to invest €200m in German office properties.

The companies said the newly created venture will target properties in and around the top seven German cities, together with select, growing “B-cities” across the country.

The lot size of the properties to be acquired is expected to be between €20m and €80m.

The companies said the venture has already agreed to buy its first asset for a “mid-double-digit million euro”. The deal involves a fully let office property located in one of the top cities in North Rhine-Westphalia.

Jonathan Willén, CEO of Europi, said: “We are pleased to enter Germany through our joint venture with Silverton, a partner with an established track record and best in class asset management capabilities.

Germany is one of the largest and most liquid real estate markets in Europe with meaningful economic growth across its larger cities. By focusing on modern occupier requirements, ESG improvements and outstanding asset locations, we’re building on similar strategies in the UK and Spain where we’re seeing very good asset performance across our portfolio.”

Stefan Dölker, partner at Silverton, said: “We’re excited to partner with Europi and will provide them with comprehensive support in the acquisition of German office properties.

“The joint venture gives us the opportunity to realise interesting investment opportunities with speed and certainty of execution. With our expertise and regional teams, we will ensure that the acquisition pipeline for our joint portfolio fills up quickly in the coming weeks and months.”

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