A former Corestate Nikolai Dëus-von Homeyer has launched his own company to invest €100 mln in project developments and existing buildings in Germany over the next two to three years.
A former Corestate Nikolai Dëus-von Homeyer has launched his own company to invest €100 mln in project developments and existing buildings in Germany over the next two to three years.
Dëus-von Homeyer, former director and head of Corporate Development at Corestate Capital, has set up NAS Invest to capitalise on opportunities in the niche market of assets in the €2 to €20 mln price bracket.
He previously work at the Frankfurt office of US private equity group Cerberus Capital Management in charge of property acquisitions before joining Swiss-headquartered real estate turn-around specialist Corestate.
Launched with a team of four real estate specialists, his new business will target land plots, project developments, existing buildings as well as re-positionings with an initial focus on Berlin and other metropolitan areas in northern Germany.
'Given the good economic and demographic outlook, the real estate markets in Berlin, Hamburg, Hanover will see positive growth, in both the short and long term,' commented Dëus-von Homeyer.
He sees 'many interesting opportunities' in the smaller price range. 'Competition among buyers is not so intense here, as private investors often lack the required capital base, whereas institutional investors target larger transactions for reasons of economies of scale,' he added.
NAS Invest has already made its first acquisition with the purchase of a property in Berlin for €10 mln. The company from its own capital base as well as on behalf of a broad network of national and international partners such as family offices and high-net-worth private clients.