London-based Halverton Real Estate Investment Management has exercised an option to take 100% ownership of its German subsidiary from private equity group NAI Apollo Real Estate. 'At the time we established the German business, we selected a short term strategic partner in NAI Apollo. The business has grown rapidly in its first 15 months of operation which is a testimony to the success of that strategy and the partnership with NAI Apollo, which always had a pre-defined duration,' said Alexander Hoff, Halverton' s Head of German Operations.
London-based Halverton Real Estate Investment Management has exercised an option to take 100% ownership of its German subsidiary from private equity group NAI Apollo Real Estate. 'At the time we established the German business, we selected a short term strategic partner in NAI Apollo. The business has grown rapidly in its first 15 months of operation which is a testimony to the success of that strategy and the partnership with NAI Apollo, which always had a pre-defined duration,' said Alexander Hoff, Halverton' s Head of German Operations.
Halverton is to open an office in Munich in November to add to its presence in Frankfurt and Berlin. Hof said NAI Apollo will remain an important partner in Halverton's acquisition strategy in Germany. The financial details of the transaction were not disclosed.
