Peakside chalks up EUR 120m from German sales in 2011

Specialist real estate private equity firm Peakside Capital said it generated more than EUR 120 mln from asset sales in Germany last year for its PREF I fund.

Peakside disposed of 21 assets in total, of which residential properties accounted for 68%. Other properties sold include a leisure resort in the Bavarian Alps, as well as various mixed-use assets in Western Germany.

Stefan Aumann, a partner at Peakside Capital and responsible for asset management at the firm, said he remained bullish on Germany as a market for opportunistic investment in 2012.

‘Despite, or even because of, the turmoil in world financial markets we have seen considerable interest for properties from our portfolio,’ he said. ‘In the current market, our decision back in 2006 and 2007 to focus particularly on residential assets and properties of smaller and medium size has proven to be the right strategy, as these property types are experiencing the most resilient demand.’