Barings Real Estate Advisers, part of global real estate investment manager Barings, has been instructed to assemble and carry out the asset management of a German retail real estate portfolio by HB Capital, a Dutch family office.
The portfolio will have a total acquisition volume of approximately €200-300 mln. HB Capital’s strategy focusses on Daily Needs Retail such as retail warehouses, neighbourhood shopping centres and stand alone hyper and/or supermarkets in midsize and upward cities in key regions in West Germany, from Hamburg to Munich.
'For years, our portfolio in the Netherlands and in Belgium is managed by our own asset management team. We have learned that the key to success is local expertise combined with and an on the ground team with entrepreneurial spirit that can successfully manage our assets in the long term,' commented Richard Dallinga, managing director real estate of HB Capital.
HB Capital, part of well-known Dutch retail group the Blokker family, pursues a long-term hold strategy. Its current portfolio in the Netherlands and in Belgium comprises around 650 properties in retail and logistic real estate.
In Germany, which represents a new investment region for HB Capital, the short term focus will be on stabilised opportunities shifting towards more opportunistic investments over time.
'We are very excited about the new collaboration with this interesting and professionally-structured real estate investor. It brings us considerably closer to our target to expand our retail business,' concluded Christoph Wittkop, head of Germany at Barings Real Estate Advisers Europe.
