Finland's Northern Horizon Capital has acquired a majority stake in Otus Management, a Berlin-based real estate manager with 12 employees and €750 mln of assets under management.
Finland's Northern Horizon Capital has acquired a majority stake in Otus Management, a Berlin-based real estate manager with 12 employees and €750 mln of assets under management.
In addition to its asset management platform, Otus provides property management services through its affiliate, BGO Property Management.
Following the transaction, the founders of Otus, Stephan Pristaff and Bernd Thiele, will continue in the senior management.
The acquisition strengthens Northern Horizon Capital’s management and deal sourcing capabilities in Germany, with offices in Munich and Cologne in addition to the headquarters in Berlin. In Germany, Northern Horizon Capital will handle its future investment activities and deal sourcing of commercial real estate investments via Otus.
'Through the addition of the Otus team we will be broadening our management capabilities in Germany, and it improves our ability to source and manage commercial real estate opportunities for our institutional investor client base,' said Northern Horizon Capital’s head of Germany and future CEO of Otus, Georg Haider. 'The partnership will also allow us to in-source the property management functions of our current investment products in Germany to provide a more streamlined service to our clients.'
Stephan Pristaff, who remains as second CEO of Otus, added: 'With Germany as an investment location continuing to attract significant capital inflows, not least from Northern European institutions, we see great potential in the cooperation with Northern Horizon Capital.'
