RQI Immobilien has been launched as a pan Germany investment firm by Professor Nico Rottke as chairman and CEO, with Hendrik Möller as chief development officer.
Wiesbaden-based RQI Immobilien is pursuing a nationwide focus on residential and office with a manage-to-green and manage-to-core strategy.
In its sights is €75 mln of investment within the first year for portfolio optimisation and development with what it calls a 'high level of added value'.
The company revealed that at the beginnng of the year it acquired its first existing property with significant potential for value appreciation, in a German ‘B’ city. The total investment costs are in the high single-digit million euro range.
It is currently appraising more investments to add in the first half of the year.
Rottke is well-known in German real estate circles as professor at EBS Universität für Wirtschaft und Rechtas where he taught for more than 10 years from November 2004 until January 2015. He is President Emeritus of the iddiw Institute of the German Real Estate Industry. He was also chair of global real estate and capital markets at the University of Central Florida.
Following his academic career, he joined EY as a partner in its real estate capital and debt advisory group before joining Vorstand and later aam2cred Debt Investments for over five years until December last year.
Möller is a graduate in business administration and financial economist at EBS and real estate investment advisor. He once worked at Centrum Holding Deutschland as an authorised signatory and head of asset management as well as investment manager for the development of commercial real estate properties and previously worked in the finance and property division at LEG Management.
Plans
In 2024, the company plans to realise €75 mln of acquisitions via JVs with external equity partners. Investments will primarily be in existing properties having development potential, with total investment costs from around €10 mln per asset. The risk/return ratio is oriented towards value-add. The focus is on around 40 economically prosperous cities and major towns.
By the end of 2025, a total of around €100 mln is targeted across Germany.
The RQI team in Wiesbaden will shortly be expanded, rising to 10 staff by the end of 2024. In the medium term, it should comprise some 25-30 people. Professor Dr Karl Hamberger, Senior Partner emeritus and former Global Head of Real Estate Tax at EY, will serve as a member of the supervisory board.
